Wabush Mines, November 22, 2017
November 22, 2017
We, as Representative Counsel to the Salaried Retirees of Wabush Mines, appeared before the Quebec Court of Appeal on Tuesday, October 31, 2017 to seek Leave to Appeal the September 11, 2017 decision by Justice Hamilton in these CCAA proceedings.
In his decision, Justice Hamilton held, among other things, that the statutory deemed trusts under the Newfoundland PBA, the Quebec Supplemental Pension Plans Act (the “SPPA”), and the Federal Pension Benefits Standards Act (the “PBSA”) were not effective in the CCAA proceedings of Wabush Mines.
The Quebec Court of Appeal has granted leave, and the appeal is tentatively scheduled to be heard on June 11 and 12, 2018. We will continue to provide updates as more information becomes available.