logo
Share SHARE
FONT-SIZE Plus   Neg

Manitoba Telecom Services Updates On Pension Lawsuit - Quick Facts

Manitoba Telecom Services Inc. (MBT.TO: Quote) announced that on February 11, 2012, the Manitoba Court of Appeal ruled in its favour on a lawsuit regarding one of its Manitoba pension plans.

The litigation was commenced by a group of plaintiffs consisting of unions and retirees in respect of events that occurred starting in 1996, in advance of the Company's privatization.

In dismissing all of the plaintiffs' claims, Manitoba's highest Court confirmed that the Company complied with all of its legal obligations and has no liability to the plaintiffs, Manitoba Telecom Services said.

Today, the plaintiff group asked the Supreme Court of Canada for permission to appeal this decision. The company said that it will challenge today's request vigorously.

The Supreme Court is expected to announce whether it will grant the plaintiff group leave to appeal in the second half of 2012. Should the Supreme Court agree to hear this appeal, the Company and its external counsel believe that the Supreme Court would simply affirm the decision of the Manitoba Court of Appeal, though any decision would not be expected until the end of 2013 or the first half of 2014. There would be no expected cash or accounting impact to the Company during such period, Manitoba Telecom Services noted.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
'Booth babes' will not be seen at the RSA Conference scheduled to be held next month, as the exhibitors have added a new clause to its rules that ban revealing clothes. Although, RSA did not use the term "booth babe," its contract clearly explains that staff deployed at booths should wear business... Election fever has gripped the UK as Prime Minister David Cameron on Monday urged his people to prudently choose either a prosperous future under his Conservative Party or economic ruin under the Labour Party headed by Ed Miliband. Fast food giant McDonald's Corp. (MCD), reportedly plans to serve its breakfast menu for the whole day. According to a CNBC report citing analysts from Janney Capital Markets, McDonald's is planning to test serve breakfast for the whole day at select locations starting in the next few months. "Our...
comments powered by Disqus
Follow RTT