Tuesday, August 7, 2012

US Retiree welfare plan termination

Docket 8066 is a motion by Nortel US to terminate the US retiree welfare benefits plan on Dec 31 2012. Nortel claims that they have followed all the legal requirements of section 1114 of thc code and that time has run out. The trial date is in early November and from what I have read of the various motions prior to this the court will probably grant approval. Healthcare benefits, long term care, life insurance benefits etc will cease on Dec 31 2012.

No comments:

Post a Comment