Nortel Networks Corporation, May 31, 2019
May 31, 2019
The Monitor mailed the final distribution from the Health and Welfare Trust on May 30, 2019 to approximately 9,000 Participating Beneficiaries for claims relating to:
- LTD Income;
- LTD Basic/Optional Life Insurance;
- Pensioner Life Insurance;
- Survivor Income Benefits;
- Survivor Transition Benefits (in-pay)
Although the Statement displays a distribution rate of only 1.212%, which is the estimated rate referenced in the April 2019 report to the Court, the actual distribution rate used in calculating the amount of the cheque is slightly higher at 1.228%.
Please note that approximately 260 individuals will have their distributions delayed as their distribution requires approval from ESDC.
Please continue to keep your address updated with the Monitor as there is expected to be at least one more distribution from the Nortel Estate although the timing and amount of this distribution is not yet known. For information on address changes please click here.