Nortel Networks Corporation – 106
June 3, 2010
The Court of Appeal released its decision today denying leave to appeal on a motion that was heard in writing on May 31, 2010. A group of individuals sought leave to appeal the March 31 decision of the Ontario Superior Court of Justice, which approved a Settlement Agreement reached by various parties on March 30, 2010. The Settlement Agreement provides for the continuation of LTD income, medical, dental and life insurance benefits through 2010, and also for a lump sum payment as an advance distribution to certain eligible terminated employees. To view a copy of the endorsement, please click here.