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Nortel Carling

 

NRPC

"On January 14, 2009, Nortel Networks initiated financial restructuring under the Companies' Creditors Arrangement Act (CCAA) in Canada. Since then most of the company's assets have been sold off, no severances or retirement allowances have been paid, all medical benefits and life insurance have ceased and the province of Ontario has taken over the Nortel pension fund. The NRPC's major priorities are to ensure that Nortel retirees and former employees receive the maximum possible compensation for the benefits they have lost and to provide pensioners more favourable financial options when Ontario winds up the pension fund. We will do this through representation at the CCAA process and by seeking urgent action from governments to protect our rights as citizens and as Nortel creditors and by communicating our story to political leaders and the public nationwide."

Don Sproule, Chairman NRPC

Latest News (Members also see Member News)

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Item of the Week

Instructions for your personal Estate Executor/Executrix

As many of you are aware, the recent decisions in the US and Canadian courts could result in potentially significant distributions for many of Nortel’s former employees, pensioners and disabled employees. Unfortunately Nortel’s bondholders and other US creditors have decided to appeal these decisions.

As this litigation drags on, it is clear that for many claimants, distributions from the Nortel estate may not happen in their lifetime. You should treat your claim in the Nortel estate like any other asset you own. It is thus important for claimants to prepare instructions for their personal estate executor/executrix detailing who to contact to obtain updates with respect to outstanding claims and distributions. Contacts should include:

  •   Ernst & Young for outstanding non-pension related claims;

  •   Morneau Shepell for outstanding pension related claims; and

  •   Koskie Minsky and the NRPC for general information and some tax implications on Nortel estate payouts. 

See this Help file for contact information. 

Notification of Approval of the Final Negotiated Plan Windup Report

Members of the Negotiated Pension Plan should go to "Members Only / Documents / English Documents / Newsletters & Other" to read about the approval of the Negotiated Pension Plan Windup Report and its implications.