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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

FST Decision Rendered

July 27, 2019

FST Decision Rendered

The Financial Services Tribunal handed down its ruling on July 23rd2019 regarding our challenge of the treatment of indexation recoveries from the estate.

The judgment dismisses our position and supports the position put forward by the Ontario Superintendent of Financial Services and Morneau Shepell.

We have a 30-day window to appeal. We will likely not appeal the decision but are analysing our options.

If we do not appeal, we will provide more information on the timing of adjustments and lump sum transfers once details are available.

Notice of hearing at the Financial Services Tribunal of Ontario