Notice of Intended Decision for the Nortel Networks Limited ...

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12. The First Monitor's report in the CCAA proceeding, dated February 5, 2009, indicated
that it was the intention of Nortel to prepare a business plan and a restructuring plan.
Nortel, under the supervision of the Monitor and with the approval of the court began to
sell offbusim~ss divisions as part of a restructuring plan that later became a liquidation
plan. A significant number of Plan members ceased to be employed by Nortel as a result
of the sales of the business divisions ofNortel from the time the Initial Order was issued
in the CCAA proceedings on January 14,2009 to and including October 1,2010.
13. The Annual Information Return filed with the Financial Services Commission of Ontario
for the Plan as of December 31, 2009 indicted that there were 6847 active members of the
Plan at the end of December 2008. Morneau has determined that there were 5306
terminations of employment of active members of the Plan during the period from and
including January 14,2009 to and including October 1,2010.
14. Section 69(l)(d) of the PBA provides that the Superintendent, by order, may require the
wind up of a pension plan if a significant number of members of the pension plan cease to
be employed by the employer as a result of the discontinuance of all or part of the
business of the employer or as a result of the reorganization of the business of the
employer.
15. The activities described in paragraph numbers 12 and 13 of this Notice ofIntended
Decision constitute a termination of employment by Nortel of a significant number of
members of the Plan as a result of the discontinuance or reorganization ofNortel's
business within the meaning of section 69( 1)(d) of the P BA.
16. Such further and other reasons as may come to my attention.
YOU ARE I~NTITLED TO A HEARING by the Financial Services Tribunal (the
"Tribunal") pursuant to section 89(6) of the PBA. To request a hearing, you must deliver to
the Tribunal a writ:ten notice that you require a hearing, within thirty (30) days after this
Notice ofIntended Decision is served on you. 1
YOUR WRITTEN NOTICE must be delivered to:
Financial Services Tribunal
5160 Yonge Street
14th Floor
Toronto ON M2N 6L9
Attention: The Registrar
I NOTE - Pursuant to section 112 of the PBA any Notice, Order or other document is sufficiently given,
served or delivered if delivered personally or sent by regular mail and any document sent by regular mail
shall be deemed to be given, served or delivered on the seventh day after the date of mailing.