To access the Change Form please click here. If you have no questions or changes there is nothing further to do at this time. The Monitor will send out ERA forms prior to tax season based on the information provided in the Notice. If you did not receive a Notice by October 10 th and believe you should have, please contact the Monitor at: nortel.
To summarize, in order to be eligible for the ERA you must meet all of the following three criteria:. You should consult with your tax advisor to ensure the calculation of Reportable ERA reflects your individual circumstances and to understand the effect it might have on your RRSP deductions.
If you have any questions about your cheque please email us at nortel kmlaw. The Monitor will be working to process the ESDC response and expects to have cheques and revised statements to these individuals by the end of September. The Monitor will not be able to provide individual information regarding the ESDC response during this time as it is focusing on turning around the information as quickly as possible in order to have these distributions in the mail as soon as possible.
The Monitor and Koskie Minsky have now completed their roadshows and webinars providing information with respect to the first dividend. To view a copy of the presentation slides please click here. A letter has been mailed out by those affected by the ESDC review. If you have received a letter from Service Canada on behalf of ESDC with respect to Employment Insurance owing please review to ensure that the information is correct.
If you have any questions after reviewing the letter please contact Koskie Minsky at nortel kmlaw. Please contact Koskie Minsky before submitting the form at nortel kmlaw. We will respond to inquiries as soon as possible during business hours. The Monitor is still waiting for clearance for individuals and will provide updates as it receives a response, which we will also post on our website. Please check our website regularly for updates. The sessions are for former Nortel employees only and will be held at the following locations and dates:.
To view a copy of the Information Session Schedule in full including the address of the meeting please click here. This decision follows on the denial of leave to appeal by the Ontario Court of Appeal from the decision of the Superior Court of Justice Commercial List to sanction the Plan.
The Superior Court declined to do so and sanctioned the Plan without further amendments. To view a copy of the Supreme Court decision, please click here.
As previously reported, the first dividend is for A detailed statement will be provided with cheques and a Guide to the Initial Distribution will be mailed to members providing an explanation of various items on the statement. A copy of the Guide to Initial Distribution is available here. The Monitor and Representative Counsel have organized webinars and information sessions in order to explain the distributions and tax implications. Please try and attend one of these sessions if you have any questions regarding your distribution.
To view a copy of the full schedule please click here. The next and possibly final distribution is expected be between 2. On June 8, , the Monitor declared that the first dividend for Compensation Creditors will be July 6, and that cheques will be sent to the address on file for those with compensation claims throughout mid-July.
To view a copy of the Notice of Initial Distribution please click here. The first distribution will be Note amounts received from the Health and Welfare Fund or Hardship Fund will be deducted and any applicable tax withholding will be applied. You will receive a detailed package with your cheque explaining the cheque amount. Representative Counsel is working with the Monitor to organize roadshows to explain the first dividend cheque and tax implications on various claims.
More information will be provided in the near future. Please ensure your address is up to date before June 30, , as whatever address is on file as of this date will be used to mail your cheque.
To advise us of an address change please follow the instructions provided at this link. To view a copy of the Plan Effectiveness Certificate please click here. An FAQ has been prepared responding to questions received during and after the town hall held on April 27, regarding the ability to transfer certain employment claim payments to RRSPs.
To access the FAQ please click here. The Monitor has also posted the form to be completed if you qualify for a direct RRSP contribution based on the following criteria:. The form can be accessed here. Please read it carefully and note the deadline of 5 pm on June 8, To access a recording of the town hall held on April 27, regarding the ability to transfers certain employment claim payments to RRSPs please click here [Link no longer active]. This means that any applications for the Hardship Fund, which provides an advance on your claim if certain criteria are met, must be received by Sunday, May 7 th in order to be processed.
For more information on the Hardship Fund, including the application and eligibility requirements please click here. We are pleased to announce that the Superior Court of Justice Commercial List approved a Waiver and Reserve Agreement today which will allow the Monitor to make distributions. The Waiver and Reserve Agreement also permits the Settlement Agreement and Plan of Compromise to be implemented notwithstanding that appeals or leaves to appeal the Sanction Order are outstanding.
A copy of the endorsement is available here. A copy of the Court Order is available here. A hearing is scheduled for May 5, As previously reported, the distribution to former Canadian employees including LTD Beneficiaries and retirees will be cents on every dollar of approved claim with more than one distribution expected.
During the hearing on May 1, the two dissenting LTD Beneficiaries advised the court that they do intend to seek leave to appeal to the Supreme Court of Canada. The deadline to file their material is May 12, We will continue to update you as information becomes available.
Please continue to check back for updates including information sessions schedule to be announced for information about the distribution and taxation matters. If you are 71 years of age or younger as of December 31 st , i.
Koskie Minsky LLP together with its advisors will be holding a participatory conference call and webcast accessible by internet or telephone see below on Thursday April 27 th , at am EDT to discuss the process that Ernst and Young the Monitor will implement in connection with the upcoming claims payments that may be eligible for direct transfer into individual RRSP accounts.
We felt that it would be helpful to discuss your concerns and share the information we currently have. The call will also address questions on tax withholdings on the distributions.
The presentation will be done in English and French and there will be the opportunity to ask questions in both languages. The call is scheduled for one hour and will start with a brief presentation — with slides for those who access via internet — followed by a question and answer period. You will be able to ask questions orally or by email. To view a copy of the PowerPoint presentation please click here. Feel free to share the details of this call with any other former Nortel employees that may be interested in this topic.
If you have any questions please email us at nortel kmlaw. The Court of Appeal unanimously held that the application was not meritorious, and the appellants had not met the test for leave to appeal. This appeal process has and will continue to delay the implementation of the Plan, as well as the first distribution to creditors from the estate which was originally expected to be made in April As soon as there is updated information as to when the Monitor expects to be able to make that first payment we will post it here.
Please keep checking back for further developments. We are pleased to report that on January 24, , after an all-day cross-border hearing, both the Ontario Superior Court of Justice Commercial List and the United States Bankruptcy Court released decisions from the bench unanimously sanctioning the Plans of Compromise and Arrangement in their respective jurisdictions.
A copy of the Canadian Sanction Order is available here. The endorsement of Justice Newbould was released on January 30th and can be viewed here. The cross-border sanction hearing followed votes by creditors in both jurisdictions in January. The Canadian vote was held on January 17, and resulted in In providing his decision, Justice Newbould of the Ontario Superior Court of Justice recognized the hardship faced especially by former employees, pensioners, LTD Beneficiaries, surviving spouses of former employees and their beneficiaries in the length of time it has taken to get to a settlement and the depletion of assets following successful asset recoveries.
The Canadian Court admitted the submissions of the two dissenting LTD Beneficiaries, however, the Plan was sanctioned without further amendments. Reasons for the decision will follow and we will post a copy of the reasons of both courts as soon as they are released. Pursuant to the Plan, Canadian Compensation Creditors are expected to receive a recovery currently estimated as CA 45 cents to 49 cents.
The initial distribution is anticipated to be made during April To view the FAQ please click here. A letter has been sent to Compensation Creditors advising them of the upcoming Meeting of Unsecured Creditors of the Canadian Debtors on January 17, Compensation creditors do not need to attend the Meeting as the court appointed representatives will be voting on your behalf in favour of the Plan.
If you are a member of the Negotiated or Managerial Plan and do not have any other benefits i. If you have any questions regarding your status as a Compensation Creditor please contact us at nortel kmlaw. As part of the information sessions being hosted to provide Nortel Managerial Plan members with information about their options, three webinars were held on November 24 and 25, If you are not able to attend, a recording of the webinar will be posted online two business days after the live presentation and will be able to be watched as many times as a member may need to.
If you have any questions please contact our Communications Department at nortel kmlaw. To view a copy, please click here.
The victories secured in court, especially over the last two years, were the catalyst to this settlement which yields substantially more than any creditor group was prepared to concede in court to Canadian creditors. Some of the proceeds will be converted to Canadian dollars, and together with the funds currently in the Canadian Estate, will be made available to Canadian creditors through the claims process.
Assuming that all conditions are satisfied, the Monitor of the Canadian Estate estimate that a payment on claims will be made in the first half of To view a copy of the press release from the Canadian Estate please click here. To view a copy of the Global Settlement and Support Agreement please click here. In addition, to access the Koskie Minsky Legal Update slides which are being presented at the Managerial Plan wind up roadshows please click here. For background information regarding the Allocation Litigation and other litigation please click here.
We will continue to provide information as it becomes available, including projections of the percentage amount to be distributed to creditors — including pensioners, former and disabled employees — on their claims. Justice Sommerfeldt of the Tax Court of Canada. The oral submissions were completed. However, Mr. Justice Sommerfeldt granted the Crown the opportunity to make a written submission to address a question that his Honour raised on the first hearing date.
The submissions process should conclude by November 24, , after which the judge will deliberate and provide written reasons. His Honour advised that he expects that it will be a matter of months to review the documents, reach a decision, and release written reasons, given the complexity of the case.
For more information about the Test Case Appeals, please see the Tax Appeal tab on this page or click here. In order to assist you with the completion of the option forms, Morneau Shepell will conduct information sessions in October and November of in person and by webinar.
To view a full schedule of the information sessions please click here. For more information regarding the Managerial Plan wind up, please visit our Wind up tab by clicking here. Morneau commenced mailing option forms on August 30, For more information on the wind-up of Nortel registered pension plans including the information sessions being held for the Managerial Plan, please visit our Wind-Up tab by clicking here.
The parties were not able to complete the case in one day and therefore a second hearing date has been scheduled for Wednesday, October 5, We will provide an update following this hearing. For further information regarding the Test Case Appeals please visit our Tax Appeal tab by clicking here. We understand that a number of you have received letters from the Canada Revenue Agency CRA regarding your Notice of Objection to appeal the taxes paid on the health and welfare trust payments you received in For the most part, these letters are standard form letters confirming receipt of your objection and reminding you that if you did not pay the taxes on your payments and received a Notice of Assessment stating that you owe taxes for these payments in , you should pay these amounts as interest may be accruing.
We expect that the vast majority of you did pay the tax on the payments, for which you should have received a tax slip T4 or T4A. If you did pay your taxes, you do not need to take any action. You can keep the letter in your records as confirmation that your Notice of Objection was filed on time.
If you have received a letter that states otherwise and you have questions about it, please contact us at nortel kmlaw. For further information on the tax case appeals please visit our Tax Appeal tab by clicking here. For further information please see our Wind Up tab by clicking here. Koskie Minsky has mailed out a survey to members of the Managerial Plan in preparation for information sessions that will take place in the fall to explain the final steps of the pension windup and help members understand and complete their options forms.
To view a copy of the Court of Appeal decision please click here. The issue of post-filing interest was first raised during the allocation trial.
The Canadian and US Courts requested submissions from the parties and based on these submissions the courts agreed to a joint hearing on the entitlement of post-filing interest.
On August 19, , Justice Newbould released a decision finding that Nortel Bondholders were not entitled to post-filing interest in the Canadian allocation proceeding.
Case Name: Nortel Networks Inc. We will advise as soon as further information is available. For more information regarding the proceedings please visit our Allocation Litigation Tab by clicking here.
The court reserved its decision and we will advise as soon as it is available. For more information regarding the allocation litigation please visit our Allocation Litigation tab by clicking here. We will provide updates regarding the result of both the US and Canadian appeals as they become available. For more information regarding the background and status of the appeals please visit our Allocation Litigation tab by clicking here.
If you do not receive a package by March 15, and believe you received a life insurance or survivor benefit payment from the HWT in that was taxable, please contact us at or nortel kmlaw. For more information regarding this please visit our Tax Appeal tab by clicking here. As part of the information sessions being hosted to provide Negotiated Plan members with information about their options, there were three webinars held on November 26 and 27, Option Forms for Negotiated Plan members commenced being mailed on November 16, and expect to be completed by today.
As part of the Option Form packages, there is information regarding live sessions. A dial-in audio-only option will be available to individuals who do not have internet access and wish to listen in to the above listed webinar. A Koskie Minsky representative will call you back to provide you with details about how to dial in. Please ensure you register by 5 pm on Wednesday, November 25, If you are unable to attend your preferred webinar session, all of them will be available for viewing on the KM and the NRPC websites after 24 hours after the live session.
The full meeting schedule for Negotiated Plan members who retired outside of Quebec is available here. The full meeting schedule for members who retired from Nortel in Quebec is available here.
The wind up report for the Managerial Plan was filed on November 13, We will advise you when it has been approved. A similar process to that followed with the Negotiated Plan will apply.
For more information please visit our Allocation Litigation Tab here , or to view a copy of the decision of the Court of Appeal please click here. To see a copy of the Court Order please click here. In addition, a newly appointed conflict administrator on behalf of French Estate provided notice to stakeholders of their intention to seek leave to appeal. For more information on the appeals and next steps, please visit our Allocation Litigation Tab by clicking here. For more information please visit the Allocation Litigation tab by clicking here.
A joint hearing of the US and Canadian courts is scheduled for June 25, to determine some points of clarification following the decisions of the Ontario Superior Court of Justice Commercial List and the U. Bankruptcy Court dated May 12, For further information please visit our Allocation Litigation Tab by clicking here. All creditors, including Canadian pensioners and disabled employees, are to receive a fair and equitable payment of their claims.
The decisions take an unprecedented approach, and are a major breakthrough in the cross-border litigation. To view a copy of the opinion of Judge Gross of the U. Bankruptcy Court please click here. For more information regarding the allocation dispute, including pleadings and summaries of the proceedings, please visit our Nortel Allocation Litigation tab. A Disabled Progress Report was mailed out on April 7, For information on the increases, as well as the eligibility requirements and procedure please click here.
If you have questions about the tax slip please click here to view a copy of our FAQ or send us an email at Nortel kmlaw. He allowed their claim to a Funding Guarantee. For further information please see our Allocation Litigation tab by clicking here. A copy of the decision of Justice Newbould can be viewed here. That is, whether Newbould J. A copy of the decision of the Ontario Court of Appeal granting leave to appeal can be viewed here.
To view summaries of these proceedings and for more information regarding the Allocation Litigation, please click here. For further information regarding the Allocation Litigation please click here. On August 19, , Justice Newbould of the Ontario Superior Court of Justice Commercial List released a decision finding that Nortel Bondholders were not entitled to post-filing interest in the Canadian allocation proceeding.
For more information and to view the decision please click here. Further information regarding the trial and the positions of the parties are provided in the pre-trial briefs provided at the Allocation Litigation tab that can be accessed by clicking here. Following a hearing on November 19, , Justice Morawetz of the Ontario Superior Court of Justice Commercial List approved a revised litigation timetable setting the date of the beginning of the trial for May 12, and continuing for 19 trial days thereafter.
To view a copy of the Order of Justice Morawetz entered and filed with the court on December 3, , please click here.
To view a copy of the order of Judge Gross, please click here. The Notice of Declare Distribution can be viewed here. In addition, the Court extended the deadline for filing a Hardship Application to October 31, and increased the amount available in the Hardship Fund. To see a copy of this letter please click here. On April 3, , Justice Morawetz and Judge Gross released written reasons for their March 8, approval of the Allocation Protocol and set January 6, as the date on which both courts will commence hearing the trial for the remaining claims and allocation issues.
To view a copy of the Endorsement of Justice Morawetz please click here. To view a copy of Opinion of Judge Gross please click here and to view a copy of the Order of Judge Gross please click here. If you have any questions please e-mail us at nortel kmlaw. On March 8, , Justice Morawetz and Judge Gross released decisions approving the Allocation Protocol that was originally before the court in June The Allocation Protocol provides for the U. For more information please visit our Allocation Litigation tab at the following link.
A webinar was held on February 14, To view the answers to questions that were received before and during the webinar please click here. To view the archived version of the webcast held on February 14, please click on the following link [Link no longer available]:. If you received a payment from the Termination Fund, the Health and Welfare Trust or the Hardship Fund in and have not received your tax slips please contact the Monitor at For those who are receiving pensions, please note that Northern Trust, the custodian of the registered pension plans in January and February , sent tax slips a couple of weeks ago and there were a number of incorrect addresses.
If you have not received your tax slip for your payments or it went to the wrong address and you were still able to pick it up, please make sure that Morneau Shepell, the administrator of the registered pension plan, has your correct address.
Please contact Morneau directly by calling:. The webinar will be presented in English with slides in English. The French slides are available for you at the following link and you will be able to ask questions in French and have a response in French. Koskie Minsky will be hosting a webcast on February 14, from — p. The webinar will provide an update on an upcoming communication from the pension administrator, Morneau Shepell, as well as various issues expected to be addressed in the coming months.
Please click here to view the February 14th webcast slides. A dial-in audio-only option will be available to individuals who do not have internet access and wish to listen in to the webinar. In the coming weeks, you will receive T4 or T4A slips or R1 slips if you reside in Quebec , in respect of the various sources of Nortel income that you received in Depending on the types of payments you received in , you may receive more than one slip related to Nortel.
The tax slips from Northern Trust reflect payments made in January and February and were mailed last week, so please watch your mail. You may also receive separate T4A, T4 or R1 slips for other payments you may have received by or through Nortel in , including certain distributions from the Nortel Health and Welfare Trust.
These tax slips will be mailed out in the next few weeks. Counsel has filed a notice of motion with respect to certain pre-filing terminated employees for claims against the U.
Debtor for termination and severance. The Ontario Superior Court of Justice Commercial List extended the deadline for submitting applications as part of the Employee Hardship Application Process as well as the stay period until May 3, The Honourable Justice Warren K.
Winkler, Chief Justice of Ontario ended the mediation that started on January 14, today, announcing that a mediated agreement was not reached. For more information regarding the mediation, please click here. The Ontario Superior Court of Justice Commercial List extended the deadline for submitting applications as part of the Employee Hardship Application Process as well as the stay period until February 2, For more information please refer to the Nortel Tax Appeal Tab available here.
Updated Hardship Fund Eligibility Criteria. On July 27, the Court approved the expansion of the scope of the Hardship Fund to include Nortel pensioners and survivors, allowing them to apply for a payment from the Fund for circumstances which satisfy the requirements. The Hardship Fund has been in place since July 30, It was originally established in response to urgent financial need experienced by former Nortel employees who had no income because they lost their job with Nortel.
Nortel pensioners and survivors were ineligible under the original version of the Hardship Fund Eligibility Criteria. Since the pension cutbacks last summer, however, the Court-appointed Representatives became aware of situations of serious financial hardship among pensioners and sought the expansion that was approved by the Court on July If you are a Nortel pensioner or survivor and you are in a position of immediate financial hardship, you may request a payment from the Fund by completing a Hardship Payment Application.
Koskie Minsky can help you complete this form. This will be a private and confidential process, and you will not be required to share your personal information with anyone other than the Monitor, who is responsible for assessing your application, and your Representative Counsel. Eligibility: In order to be eligible for a Hardship Payment, there are certain criteria you must satisfy, including:.
In addition, you must demonstrate that you are in a situation of urgent or immediate financial hardship. Typical examples of financial hardship include the inability to cover your required drug costs, to pay your rent or to buy groceries. If you are experiencing hardship but you are unsure whether your situation qualifies under the expanded criteria, please contact Koskie Minsky at 1.
Any amount that you do receive will be subject to applicable taxes, and the payment will be a lump sum advance on your distribution from the Nortel estate. To be clear, your ultimate distribution from the Nortel estate will be reduced by any amount that you are awarded from the Hardship Fund. If you have any questions, please contact Koskie Minsky at 1.
Important Message — Timeline for filing a Notice of Objection. Discussions are ongoing between Koskie Minsky LLP, your Representative Counsel and Department of Justice lawyers regarding the process by which the correctness of the adverse tax rulings issued will be tested in the Tax Court of Canada.
We have received questions about the deadline for filing a notice of objection to your assessment for the taxation year. Given the time that may have already elapsed since the date that appears on your notice of assessment in respect of the taxation year, you should be aware that an individual must object by the later of: i 90 days after the date of sending of the notice of assessment; and ii one year after your filing due date for the year.
The later of the two relevant deadlines by which you must file a notice of objection to your assessment in respect of the taxation year is the date that is one year after your filing due date for the taxation year. Generally, the filing due date for your year is April 30, For those who carried on a business in , the filing due date is June 15, Therefore you have at least until April 30, to file an objection.
After the details concerning the process by which the adverse tax rulings issues will be tested have been finalized, an information package will be mailed to affected pensioners and LTD life beneficiaries. The information package will set out specific instructions for filing a notice of objection.
Please be patient until you receive this information package, as we have plenty of time left to file. There were a total of approximately Requests for Correction and Proofs of Claim received.
The process of review consists of identifying the requested corrections or claim, reviewing supporting documentation and communicating with the claimants for additional clarification or documentation where necessary. This detailed process is necessary to ensure the Requests for Correction and Proofs of Claim are accurately and fully understood before any determinations are made regarding the claims. In order to expedite matters, the Monitor is not waiting until responses to all of the Requests for Correction and Proofs of Claim have been prepared to begin responding.
The Monitor will be sending responses to approximately of them in the next several days. The Monitor will be responding to the balance in similarly sized batches over the next number of months.
After you file your income tax returns, CRA will send you an assessment. Individuals who wish to preserve their entitlement to have their taxation year reassessed in the event of a favourable outcome on one or both of the Tax Court References must file a Notice of Objection in a timely manner to the assessment received from CRA in respect of the year and year return when applicable.
Koskie Minsky is in the process of preparing a package of information elaborating upon the manner in which the affected individuals can preserve their rights to be reassessed in the event of a favourable outcome on the Tax Court References. Please be patient. You will receive this package in the coming weeks. Important Note: Only object to your assessment if you received a T4A for these benefits that is dated If you did not receive a T4A, you do not have to object at this time. A letter was mailed today on behalf of the court appointed representatives to deferred pensioners of the Nortel pension plans.
To view this letter, please click here. On March 20, , Justice Morawetz of the Ontario Superior Court of Justice released written reasons related to an Endorsement of October 6, in which the Court refused to grant an adjournment of the motion for Court approval of the Nortel Compensation Claims Process.
To view a copy of the October 6 and March 20 Endorsements, please click here. The distribution is expected to be paid in mid to late March Please click here to obtain more information about the upcoming distribution. If you wish to view a copy of the Court Order, please click here. Depending on the types of payments you received in , you may receive more than one T4A related to Nortel. These tax slips were mailed last week, so please watch your mail.
You will receive separate T4A, T4 or R1 slips for other payments you may have received by or through Nortel in , including certain distributions from the Nortel Health and Welfare Trust. Please note that the tax slip s you receive will not include any HWT distribution amounts that you received on account of LTD income benefits.
These tax slips will be mailed on or before February 29, You should not expect to receive your tax slip s related to these payments until early March of Several weeks ago, the court-appointed Representatives through legal counsel asked the Monitor to consider paying a further HWT distribution before all outstanding financial and accounting matters are finalized.
The Monitor has now concluded that it is reasonable to pay such a distribution to the LTD Beneficiaries on account of their income and life benefits other than pensioner life and to the Survivors on account of their income benefits.
The adjustment could be in the form of either a further distribution from the HWT on these benefits or, if necessary, a deduction from future distributions on pensioner life if you are entitled to pensioner life or, if insufficient, from future recoveries against your Compensation Claims in the Nortel estate, whenever these occur.
The proposed distribution is subject to Court approval, which will be sought on March 2, If the distribution is approved by the Court on March 2, it is expected the distribution will be paid sometime in March. Information about the specific date of the proposed payment is not yet available. If you have recently moved and have not reported your change of address, please complete a Change of Address Form.
The bulk of the cheques have now been mailed, but some are awaiting clearance and may take until December 16 to process. We will let you know when the last mailing has taken place. Please note that not all pensioners have Life Insurance claims. We will keep you apprised of developments.
The residual amount of your Pensioner Life claim total claim minus the two instalments from the HWT will be a claim on the Nortel Canadian estate payable at cents on the dollar when the estate is settled. If we are successful, you may have to re-file your income tax to recover taxes paid.
Hold on to your tax documents. Again we will keep you apprised of developments. Please Note: There are a small number of individuals who received their Pensioner Life distribution payment by direct deposit in mid-November.
If you have already received a direct deposit payment for this interim HWT distribution on account of Pensioner Life, then you will not receive a cheque in December. In that retrospect, they persevered. It took eight years, all power to them to have the patience to fight this out. The latest settlement still needs approval from bankruptcy courts in Canada, France, the United States and the United Kingdom. If that occurs, then pensioners and other creditors can expect to receive some form of payment by early next year.
If approved, the deal also closes the doors to any future litigation over the Nortel's remaining assets, which mostly came from the sale of certain parts of the company when it folded. But former Nortel worker and long-term disability claimant Greg McAvoy was disappointed by the way the proceeds were divided. Instead of all the Canadian claimants receiving the same proportion, the Calgary resident said it should've been divided in relation to the amount of their claims.
The money from the liquidation soon sparked years of court battles as Nortel businesses in Europe, Canada and the United States fought over the funds. Gross and Newbould jointly oversaw a unique cross-border trial in to decide how to divide the liquidation funds.
The judges ruled in that creditors of every estate should get roughly equal repayment. That sparked appeals and a settlement last year.
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