Newspaper article The Canadian Press

Ontario's Top Court Won't Hear Appeal from Former Nortel Employees

Newspaper article The Canadian Press

Ontario's Top Court Won't Hear Appeal from Former Nortel Employees

Article excerpt

Ontario's top court won't hear Nortel case

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TORONTO - Ontario's top court will not hear an appeal from two former Nortel Networks Corp. employees on long-term disability who argued that a deal to divvy up a remaining US$7.3 billion in the bankrupt company's assets was unfair.

In a decision Monday, a three-justice panel of the Ontario Court of Appeal dismissed the motion for leave to appeal, calling the proposal "not meritorious."

The court said the motion, which had sought to challenge the constitutionality of the plan, will not be considered because it was also filed past a court deadline.

The legal battle over how to divide the remaining assets of the former telecom giant has spanned nearly eight years and involved claimants in Canada, Europe and the U.S.

An agreement reached last October will see Canadian claimants -- including the former employees -- receive about 57 per cent of the proceeds or about US$4. …

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