July 31, 2009
Canadian Claims Procedure Not Applicable to Pensioners, Former Employees or LTD Recipients
On July 30, 2009, the court approved a Claims Procedure for Nortel’s creditors in Canada. .
THIS CLAIMS PROCESS DOES NOT APPLY TO CANADIAN PENSIONERS, FORMER EMPLOYEES OR LTD RECIPIENTS. KM is negotiating a separate simplified claims process for all Former Employees, including pensioners, whereby we will prepare the original claims with data from the company and Monitor and send them out to people for verification. This way individuals will not be in the difficult position of having to calculate and submit their own claims. All Former Employee claims will be included in this separate Claims Procedure, as will any lost benefits, including pension and health benefits. Once the process has been determined, we will post information about it on our website. LTD recipients continue to receive their benefits from Nortel and as such, do not have a claim against Nortel as yet. Should claims crystallize, Koskie Minsky as Representative Counsel will also file claims on behalf of LTD recipients.