Wednesday, December 15, 2010

Nortel Estate Mediation talks

I was pleasantly surprised to have a phone call from Koskie Minsky today.

I had emailed them last month to enquire about the mediation talks and to make sure that Canadian pensioners and ex-employees were well represented at the talks. My concern was that the discussions would be dominated by large claims such as the UK pension claim and that the Canadian and US claimants would be negatively impacted.

The Koskie Minsky representative assured me that they, as our lawyers in Canada, were participating at the talks on our behalf along with other representatives from Canada.

Unfortunately there have been no decisions made and the talks have not yet yielded any result.

The Koskie Minsky representative told me that the NRPC are up to date on all discussions underway and that they will be providing updates when there is something to talk about.

The longer it takes to reach a decision, the more the lawyers can charge against the Nortel Administration fund, and that means a reduction in the total estate which will be distributed to claimants. So let's hope it doesn't take too long.

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