Saturday, August 22, 2009

Nortel US Claims process NRPC Members

Agreement has been reached with Nortel to provide electronic information to Segal for the paying members of the NRPC-US. A release form has been agreed to by Nortel's attorney and each member has been requested to sign the form and fax it to Segal and mail it to Nortel's representative.

The deadline for this process is August 28th. All members of the NRPC-US who wish to have their claims against Nortel calculated by Segal need to complete and return the release form so that their information can be transmitted from Nortel to Segal.

The benefit of doing this is that the calculation carried out by Segal should match the calculation carried out by Nortel's actuarial firm. This should reduce the issues that will arise in court if claims by former creditors do not agree with the calculations that Nortel has made in determining the value of the claim from their records.

Former Nortel employees who are creditors and are not members of the NRPC-US should consider joining the group if they wish to avoid possible discrepancies in court. Check the website, shown in the right hand column on this page as US Pensioners NRPC. The details for joining are displayed on that web site.

You will need to do that as soon as possible in order to take advantage of the Segal calculation.

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