Thursday, January 13, 2011

Nortel Canada disabled appeal denied in Ontario court

The following paragraph was included in a story in the Ottawa Citizen yesterday.

The Ontario Court of Appeal has denied dissenting Nortel disabled employees the right to appeal the division of an $80 million health and welfare trust. The group is considering an appeal to the Supreme Court of Canada. There is only enough money in the underfunded trust to support about 35 per cent of long-term disability survivor benefits for widows and life insurance coverage for pensioners. Benefits were cut off at the start of this month and it will take many more months to determine how much more the groups will receive from other Nortel assets.

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