February 8, 2010
As part of the negotiations following court approval of the final Canadian Funding Agreement, Koskie Minsky LLP, the NRPC and the CNELTD announced today that the Court-Appointed Representatives for the Former Employees, along with the Court-Appointed Representative for the employees of Nortel on long term disability, and representative counsel Koskie Minsky LLP, have reached a deal to ensure the continuation of benefits through 2010.
To view a copy of the NRPC Press Release which outlines the details of this Agreement, please click here. To view a copy of this document in French, please click here. To view a copy of the CNELTD Press Release which outlines the details of this Agreement, please click here. To view a copy of this document in French, please click here.
The full details of the Agreement, which is subject to court approval on March 3, 2010, will be available on the website of the Monitor at www.ey.com/ca/nortel by February 11th. Individuals who intend to appear and oppose the Agreement in Court must complete a Notice of Appearance in the prescribed form, which will be available at www.ey.com/ca/nortel. The Notice of Appearance must be submitted to the Monitor and the Monitor’s counsel, as detailed on that document, by 10:30 a.m. EST on March 1, 2010. If you wish to appear in Court to oppose the Agreement, you must do so as an independent party at your own expense.
A letter describing the settlement will be sent to all pensioners, former employees and disabled employees of Nortel on or before February 16, 2010. Further, the Representatives will hold a webcast information session on February 23, 2010 to explain the agreement and its impact. A dial-in audio-only option will be available to individuals who do not have internet access. You can register for this service by leaving a voice message on our hotline with your name and telephone number. In the interim, please direct all inquiries concerning the Agreement to the NRPC, the CNELTD, Representative Counsel or the Monitor.