Nortel pensioners pleased with patent sale
The group representing Nortel pensioners said they're "very pleased" with the sale of the corporation's patents this week.
In a news release dated Saturday, the National President for the Nortel Retirees and former employees Canada said there's still a ways to go before the issue is resolved.
"Since Canada was a major contributor to the creation of Nortel's Intellectual Property, we are very pleased with this sizeable sale,"said Don Sproule. "Focus will now shift towards resolving how those and other asset sales will be distributed among the various global estates including Canada's."
The statement comes a day after Canadian and American bankruptcy courts appointed the Chief Justice of Ontario, the Hon. Warren K. Winkler, to over see the complicated division of Nortel's assets.
Sproule said in the statement that he was also pleased Justice G. Morawetz mentioned the "significant unsecured creditors" when Winkler was announced as mediator.