On June 25, 2015, Co-op Atlantic, Co-op Energy Ltd., and C A Realty Ltd . (“Co-op Atlantic”) were granted protection from their creditors under the Companies’ Creditors Arrangement Act (“CCAA”) pursuant to an Order of the Court of Queen’s Bench of New Brunswick.
The Co-op Atlantic Employees’ Pension Plan is being wound up in a significantly underfunded state. Koskie Minsky LLP has been retained by a large group of salaried retirees, who are facing a 32% reduction to their pension entitlements. This group has instructed Koskie Minsky LLP to seek appointment as Representative Counsel to all salaried employees and retirees of Co-op Atlantic.
On June 15th, 2016 we sent a letter to the lawyers for the company and the monitor notifying of our intention to seek a representation order from the court, as well as funding for the retirees’ legal costs from the estate. To view this letter, please click here. On June 17, 2016 counsel for Co-op Atlantic responded to our letter, to view this letter please click here.
More information will be posted as it becomes available.
If you are a salaried employee or retiree of Co-op Atlantic with questions about the proceeding, please email email@example.com us at or phone our toll-free hotline at 1-866-545-9920.