Nortel files for allocation of sales assets

Docket 5307 on the epic web site contains a request by Nortel to have the US and Canadian courts define a deadline and a method for determining the allocation of the funds received from asset sales. The mediation talks which involved 125 individuals broke down after months of debate and thousands of pages of information.

Nortel claims that they cannot move ahead with distribution of funds to legitimate claimants until they are able to determine the amounts of assets that are assigned to each country. Nortel also pointed out that there is a $2billion claim by Nortel US against the Canadian assets. The US group cannot determine what the US assigned assets will be until they know what the assets are assigned to both the US and Canada and also the claims percentage in Canada so that they can factor in the cash received from the Canadian estate into the US estate.

Docket 5266 on epic web site

An ex Nortel employee (Robert Horne) has filed a request to the US court asking for permission to sit on the unsecured creditor's committee and speak for ex employees to obtain better support for our claims and also the access to information from Nortel which was cut off when Nortel cancelled the HR services group. You can check the details at the Epic website (see the right hand column) and look at docket 5266.

We have been cast off by Nortel and left to founder as they continue to pay the lawyers and the remaining team and no one in the court system seems to be worrying about what we are owed and the blatant disregard for any rights we may have had as ex employees or retirees. Hats off to Robert Horne for taking the initiative and trying to get some representation for us in the courts.

Tom

Canadian federal election

With the Canadian federal election coming up there is a big opportunity for Nortel retirees and ex employees to show their displeasure with the current government and work to vote out the conservatives and others who refused to help secure pension funds against unscrupulous companies that let the trusts decline and then went into bankruptcy to avoid having to make up the shortfall.

Nortel also pronounced a death sentence on some of their disabled employees by raiding their fund and cutting off their source of income and yet the government stood by and watched. These people need to go and be replaced with human beings instead of the robotic, pro business, anti senior, greedy charlatans who sit in Ottawa and spew hot air.

Get organized to vote them out. Don't let them get away with what they have done. They are not representing you, they only care for themselves and their rich cronies.

Tom