logo
Share SHARE
FONT-SIZE Plus   Neg

Manitoba Telecom Services Updates On Pension Lawsuit - Quick Facts

Manitoba Telecom Services Inc. (MBT.TO) 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
Dairy giant Saputo Inc. is voluntarily recalling certain Gouda cheese products in the U.S. due to potential listeria contamination. Saputo said one of its suppliers, Deutsch Kase Haus, LLC of Middlebury, Indiana, notified the company that some specialty Gouda cheese products that it supplied to Saputo's Green Bay, Wisconsin facility may have been contaminated with Listeria monocytogenes. Amazon is exploring the possibility of using parachutes to drop drone-delivered packages. The e-commerce giant has been granted a patent titled, "Maneuvering a package following in-flight release from an unmanned aerial vehicle". U.S. food maker Kraft Heinz Co. (KHC) Friday confirmed that it has made a comprehensive proposal to Anglo-Dutch consumer goods company Unilever Plc or Unilever NV. The cash and stock offer values $143 billion. Further, Kraft Heinz noted that Unilever has declined the proposal, however it go ahead...
comments powered by Disqus
Follow RTT