September 25, 2012 – Stay of Proceedings Extended to October 31, 2012
The Monitor sought and received approval for an extension of the stay until October 31, 2012. The stay was necessary as the Monitor continues to work towards winding down the proceedings, including cancelling shares held on account of withholdings to CRA and releasing funds held in the Administrative reserve.
Discussions with CRA Regarding Taxation of Shares Concluded
Our discussions with the Canada Revenue Agency (CRA) to finalize an agreement concerning the tax treatment of the shares received by Claimants through the Canwest CCAA plan are now completed. Canwest claimants who retained us and signed the waiver required by CRA, will have received revised T4As from CRA. If you have not received a revised T4A and you were one of Claimants who signed a retainer and the CRA waiver, please email us at cser@nelliganlaw.ca.
March 26, 2012 – Monitor seeking Stay of Proceedings and Final Distribution Date to be Extended to May 31, 2012
The Monitor has brought a motion to extend the Final Distribution Date and Stay Period until May 31, 2012. We expect that the Court will grant the extension.
In terms of the claims process, the last outstanding creditor claim has been withdrawn. As a result, the Monitor expects to distribute the remaining shares held in reserve on account of this final claim to the creditors of Canwest. The final distribution is expected to be made in April of 2012.
Ongoing Discussions with CRA Regarding Taxation of Shares Received in 2010
Our discussion with the Canada Revenue Agency to finalize an agreement concerning the tax treatment of the shares received by Claimants through the Canwest CCAA plan are ongoing and are progressing well. We expect the discussions to be complete in the near future at which point we will advise and provide Claimants who retained us with the waiver documentation CRA is requesting be signed.
December 9, 2011 – Stay of Proceedings and Final Distribution Date Extended to March 31, 2012
On December 9, 2011, the Commercial Court issued an Order extending the Final Distribution Date and Stay Period until March 31, 2012. Click the following link to view a copy of the Court’s Order.
July 18, 2011 – CRA Notices of Assessment or Re-Assessment
A number of group members have recently received a Notice of Assessment or Re-Assessment from CRA denying the claimed deduction for the shares. We remind Canwest claimants who signed the retainer agreement to ensure that you advise us immediately should CRA dispute the value assigned to the shares or deny the deduction claimed on Line 232 in your tax return. Please also provide us with a copy of your Notice of Assessment or Re-assessment.
In the tax Instruction letter, and our recent communication to group members, we provided guidance on what to do should CRA deny the deduction. Please refer to the letter and our communication for more details.
Filing a Notice of Objection is necessary to preserve our right to appeal the CRA’s accepted valuation of the shares and must be done within the later of 90 days from the date of mailing of the Notice of Assessment and 1 year from the due date of the return, April 30, 2012. While we would not wait that long before filing the Notice, we are attempting to exhaust our discussions with CRA to resolve the issue first before filing appeals.
Should CRA be unwilling to discuss or negotiate a suitable resolution, we will enter into the appropriate processes to challenge the value of the shares by either proceeding with a test case or individual cases. We will assist you with the filing of a Notice of Objection at the appropriate time.
June 14, 2011 – Postmedia Shares are Now Publicly Listed on the TSX
Postmedia Network Canada Corp. shares began trading on the Toronto Stock Exchange (TSX) at market opening today under the symbols PNC.A (Class C voting shares) and PNC.B (Class NC variable voting shares).
As the shares are now publicly traded, Canwest claimants who opted to receive shares in Postmedia as compensation for their claims are now able to sell their shares on the TSX. Claimants who wish to sell their shares should contact their stockbroker and/or financial advisors to discuss the pros and cons of selling the shares. Claimants may also wish to seek tax advice regarding possible capital gains or losses that could be triggered by selling their shares now or in the future. Providing individual tax or financial advice to claimants is beyond our mandate.
As for the valuation of the shares for tax purposes, we are continuing to engage CRA in discussions in order to seek a resolution on a global basis of the value of the shares. Should CRA be unwilling to discuss or negotiate a suitable resolution, we will enter into the appropriate processes to challenge the value of the shares.
June 6, 2011 – Stay of Proceedings and Final Distribution Date Extended to June 30, 2011
On June 6, 2011, the Commercial Court issued an Order extending the Final Distribution Date and Stay Period until September 30, 2011. Click the following link to view a copy of the Court’s Order.
Reminder re Tax Issues and to provide us with a copy of your Notice of Assessment
Canwest claimants who signed the retainer agreement in relation to the taxation and valuation of your shares are reminded to immediately advise once you receive a Notice of Assessment from CRA that disputes the value assigned to the shares and/or denies the special deduction claimed on Line 232 of your tax return. If so, please advise us immediately, provide us with a copy of your Notice of Assessment and we will prepare the necessary Notice of Objection on your behalf. Filing the Notice of Objection is necessary to preserve our right to appeal the CRA’s accepted valuation of the shares and must be done within the later of 90 days from the date of mailing of the Notice of Assessment and 1 year from the due date of the return, April 30, 2012.
If you have already filed your tax return and reported all the amounts on the T4A or, if you filed your tax returns but did not report the amounts on the T4A, please advise us as soon as you receive the Notice of Assessment. We will then file a Notice of Objection on your behalf contesting the value assigned to the shares.
Should have any questions or wish to provide us with a copy of your Notice of Assessment, please contact us by emailing Leigh Norton at leigh.norton@nelliganlaw.ca
March 22, 2011
On Monday March 21, 2011, the Ontario Superior Court of Justice – Commercial List in Toronto approved the Representative Counsel’s motion to expand our representation mandate to include tax and employment insurance matters arising from the distribution of Postmedia shares to former non-unionized employees and retirees. A copy of the Court’s order can be found by clicking here.
Under the Court Order, in order for us to represent former employees and retirees regarding both the tax and employment insurance issues, it is necessary that an individual retainer agreement be signed. By signing the retainer agreement, you are authorizing us to act on your behalf regarding tax and employment insurance matters arising from the distribution of shares. You are also acknowledging that the Steering Committee (who are the Court appointed representatives for the group) will be instructing us on behalf of all group members including yourself. In the event that a settlement is reached and approved by the Steering Committee, you will be given two weeks notice of the settlement and an opportunity to opt out of and not be bound by the settlement. A retainer agreement can be obtained by emailing Leigh Norton at leigh.norton@nelliganlaw.ca.
It is also important to understand that the we will only be providing guidance with respect to issues relating to the taxation and valuation of your shares. We cannot provide any guidance on any other aspect of your tax returns or filings.
February 28, 2011 – Monitor’s Motion and Update re: Tax and EI Issues
On February 28, 2011, The Ontario Superior Court of Justice – Commercial List in Toronto approved the Monitor’s motion to, among other things, extend the stay of proceedings until May 31, 2011 and the final distribution date to March 31, 2011.
The Court granted the Monitor’s order on a without prejudice basis to our position that the $11.54 price per share is not the actual fair market value of the Postmedia shares issued to the Claimants as at December 31, 2010 and that additional funding be made available to Representative counsel to assist Claimants to address any tax and EI issues resulting from the share distribution.
The Court noted as well that the Monitor in its 15th Report Supplement has acknowledged that the $11.54 price is not intended to be and is not an estimate of the fair market value of the shares as at the date of distribution and that the value of shares ascribed in the T4s or T4As is not determinative of the income received by taxpayers. A copy of the Court’s endorsement can be found by clicking here.
Representative Counsel, the Monitor and Postmedia are engaging in discussions to& expand our mandate to include representing claimants collectively regarding the tax and employment insurance issues as well as any possible EI or tax proceedings that may take place to deal with these issues. Should we not be able to reach an agreement with the Monitor and Postmedia, the issue of an expanded representation mandate will be brought before the Court on March 21, 2011.
We are continuing to investigate the tax and EI ;matters and will keep you informed as we do so. Please also watch our web site for further information.
In the interim, any former employees of Canwest who have communicated with EI concerning this issue should advise us immediately and provide us with a copy of any relevant written correspondence. No further steps should be taken until such time as we have provided you with guidance on the matter. In addition, please also advise us whether or not you have been in receipt of EI benefits following termination of employment by Canwest during the same period of time for which you have claimed and have received shares in lieu of severance.
February 24, 2011 – Share Distribution and Monitor Motion
Pursuant to the Court approved Plan of Compromise, claimants who opted to receive shares in Postmedia as compensation for their claims will by now have received a communication from the Monitor confirming the distribution of shares to them as at December 31, 2010. If you have not received a letter from the Monitor confirming the share issuance, please let us know immediately.
As the shares being issued are in compensation for a claim for lost taxable income claimants had against Canwest, the value of the shares issued is taxable and claimants can expect to receive a T4 or T4A.
Without the involvement of Representative Counsel, the Monitor and CRA have taken the position that shares ought to be taxed based on a value of $11.54 per share. We are of the view $11.54 price per share is not a reflection of the actual value of the shares as at December 31, 2010. We do not believe it is appropriate that the price of $11.54 per share be used for tax purposes.
Claimants will have the ability to challenge the value assigned to the shares when they file their tax return. We are still investigating the matter to determine what can be done to address the valuation issue now and will be in further communication once we are in a position to provide more information.
On February 28, 2011, the Monitor is bringing a motion to, among other things, extend the stay of proceedings until May 31, 2011 and the final distribution date to March 31, 2011.
August 18, 2010 – Update for Claimants who elected to receive a Cash Payment for their Claim
It has come to our attention that Human Resources and Skills Development Canada (HRSDC) has written to some former employees who were in receipt of employment insurance benefits following their termination from Canwest to advise that the $1,000.00 cash payment will be used to entirely or partly repay employment benefits received from EI. If you have received such a letter from HRSDC,& please advise us immediately and provide us with a copy of the letter. We are in the process of reviewing the situation and will provide claimants with our advice in the near future.
July 23, 2010 – Update for Employees on LTD (Postmedia)
In conjunction with the close of the sale of Canwest’s assets to Postmedia on July 13, 2010, Employees on LTD have received offers of employment with Postmedia. The offers of employment are conditional on a return to work within two (2) years of the close of the sale.
Regardless of whether you are able to ever return to work, your LTD benefits will continue uninterrupted, subject to the terms and conditions of the LTD plan. In other words, your LTD coverage will continue as long as you remain disabled and meet the definition of disability under the plan or until you reach age 65.
As for your group benefits, we have confirmed with Counsel for Postmedia that any group benefits that you received from Canwest prior to the acquisition by Postmedia will continue uninterrupted for the next two years. After the two year mark, Postmedia may reassess the continued coverage for group benefits. We encourage employees to stay in touch with the company and to contact us should any issue develop regarding your group benefit coverage.”
July 8, 2010 – Employment Offers
In conjunction with the close of the sale of Canwest, Employees will shortly be receiving offers of employment with the purchaser.
The Court Order issued July 6th, 2010 confirms that all current employees will be offered employment on substantially similar terms and conditions. Under the Order, any employee who does not accept the offer of employment will be deemed to have been terminated. Employees who choose not to accept the offer will not have any recourse against the LP Entities or for that matter the Purchaser.
We have reviewed draft letters of offer. The letters of offer confirm that employees will be provided employment with the same salary and benefits and that previous service will be recognized for both vacation and termination purposes. Mid management employees who previously participated in the long term incentive plan and supplementary pension plan will be advised that those benefits will not be continued. This is consistent with the Purchase Agreement approved by the Court.
Employees on LTD will be also be offered employment on the same conditions. However, the offers to employees on LTD will be conditional on a return to work within two (2) years of the close of the sale. Regardless, LTD benefits will continue uninterrupted, subject to the terms and conditions of the LTD plan itself.
It is our view that the proposed offers are generally reasonable. Employees with particular questions or concerns regarding the offers can contact Representative Counsel, at no cost, through our confidential email address at cser@nelliganlaw.ca Please use personal email.
A small number of senior employees will be presented with new employment contracts instead of offer letters. As representative counsel, we are also available to assist in the review of those contracts at no cost to the employee.
June 18, 2010 – Plan of Arrangement for sale of Canwest Approved
On Friday, June 18th Justice Pepal approved the Plan of Arrangement concerning the sale of Canwest. This sale was approved by a creditors meeting on Monday June 14th.
While the purchase has not finally closed yet, it is scheduled to do so by the middle of July.
Many people have asked when they can expect to see their shares as a result of the completion of this deal. The short answer is that you should receive them sometime between July 30th and December 31st this year. The portion of you claim that is not disputed will be paid out earlier and the claims that are disputed will be paid out after the dispute has been resolved, but no later than December 31, 2010.
June 14, 2010 – The Amended Purchase Agreement and Plan of Compromise were approved at the June 14th Meeting of Creditors in Toronto. A motion for Court approval will be brought on Friday, June 18, 2010. Watch our web site for further updates.
June 11, 2010 – Amended Purchase Agreement and Plan of Compromise
On June 10th, 2010, the Monitor posted an amended purchase agreement and plan of compromise. The amendments concern the way in which unsecured creditors will receive compensation.
Prior to the amendments, unsecured creditors could elect to receive shares with a notional value of $13.33 each, or $1,000 in cash. The total value of the shares and $1,000 cash distributions was to be $150,000,000. The secured creditors would receive cash, most of which was to be financed by loans.
Under the amendment, some of the loans used to pay off the secured creditors are being converted into equity. The sponsors of the deal are paying $250,000,000 for 27 million shares — at $9.25926 per share. The sponsors originally were to pay $100,000,000 for shares at $10/share, and then provide $150,000,000 worth of mezzanine notes.
For the unsecured creditors, there are 13,000,000 shares to be distributed, valued at $11.54 per share (still $150 million, approximately). All of the $1,000 claims are still paid out in cash, but the number of shares is decreased by the amount of $1,000 claims paid out in cash (so that if one person takes $1,000 in cash, then that decreases the number of shares available by 86). The remaining shares are still distributed proportionally to the total amount of unsecured claims. Note: an unsecured creditor therefore cannot take his or her claim and divide it by $11.54 to determine the number of shares he or she will receive.
Under the original plan, unsecured creditors would own approximately 45% of the company. Under the new plan, unsecured creditors will own approximately 32.5% of the company; however, the Monitor believes that the company will be worth more because there is less debt, thus increasing the notional value of the unsecured creditors’ share of the company. These shares cannot be traded publically at this time.
There are also changes to the administration of the shares. The share distribution will occur through Computerserve Investor Services Inc.’s Direct Registration System, and will be done electronically unless a creditor insists otherwise.
The creditors’ meeting will be held on Monday June 14th to approve the amended transaction. The meeting will take place at 10:00 a.m. at Sutton Place Hotel (Wellesley Room – Lobby Level), 955 Bay Street, Toronto, Ontario.
June 9, 2010 – Creditors’ Meeting Adjourned
The Creditors’ Meeting previously scheduled to be held at the Sheraton Centre Toronto (Simcoe Dufferin Room), 123 Queen Street West, Toronto, Ontario at 10:00 a.m. (Toronto time) on June 10, 2010 is being adjourned to Monday, June 14, 2010 at 10:00 a.m. (Toronto time) and will now be held at Sutton Place Hotel (Wellesley Room – Lobby Level), 955 Bay Street, Toronto, Ontario.
The Creditors’ Meeting is being adjourned in order to allow Creditors to consider certain proposed amendments to the Plan and the Asset Purchase Agreement in advance of the Creditors’ Meeting. The proposed amendments once publicly available will be posted on the Monitor’s website.
We will review the proposed amendments once available in our capacity as representative counsel to determine if there is any further impact on former or current non-unionized Canwest employees.
May 19, 2010 – Approval of the AHC BID to Purchase the LP Entities
The Ontario Superior Court of Justice – Commercial List in Toronto approved on May 17, 2010 Canwest LP Entities’ motion to enter into an asset purchase agreement (the “Purchase Agreement”) to acquire substantially all of the assets of the LP Entities by members of an ad hoc committee (the “AHC”) of holders of 9.25% senior subordinated note holders. The Court also approved an amended Claims Procedure Order, an amendment to the SISP process to permit the parties to proceed with both the AHC’s bid and the Bank’s transaction simultaneously (in case the AHC transaction does not close) and the authorization to call a meeting of the unsecured creditors to vote on the AHC plan. Please click on the following link to view the various Court’s Orders.
The key terms of the AHC Purchase Agreement are:
- The existing newspaper operations are maintained
- Will provide continuing employment to existing full time employees and substantially all part time employees of the LP Entities
- Non-unionzed employees are to be offered employment on substantially similar terms and conditions
- The new company will have the option exercisable before May 30 to not offer employment to up to 10% of the part time non-unionized employees
- The new company will assume all employee pension and benefit plans
- All unsecured creditors with proven claims of less than $1,000 will receive a cash payment for the full value of their proven claim.
- Unsecured creditors with proven claims of $1,000 or more will be able to elect to receive a cash payment of $1000.00, failing which they will receive a pro rata distribution of shares in the new company that will purchase the assets of the LP Entities.
- The shares will have a purchase price of $13.33
- The AHC bid contemplates that the new company’s shares will be publicly traded.
It is our view that the AHC Bid is superior to the Secured lender’s bid in two critical respects:
- In contrast to the Secured Lender’s CCAA Plan, the AHC Asset Purchase Agreement does not contain any opt-out clause regarding the assumption of existing pension and employee benefit plans; and
- The unsecured creditors (including terminated employees) of the LP entities would receive nothing under the Secured Lender’s CCAA Plan. In contrast the AHC Plan, provides full recovery for unsecured creditors with claims under $1000.00 and for unsecured creditors with proven claims greater than $1000.00,& shares in the new company or, at their election, a cash payment of $1000.00.
We cannot comment on the continuing employees’ prospects at the new company in the mid-to-long term or the value of the shares being offered.
Amended Claims Procedure Requires All Employee and Former Employee Claims to be Filed by 5:00pm June 3, 2010
The Claims Process has been expanded to cover any claim by an employee or former employee of the LP entities arising out of the employment with the LP entities either before or after the January 8, 2010 filing date. The only excluded employee claims are for any employee-related liabilities that are being assumed by the Purchaser under the Purchase Agreement (for example pension plans and employee benefit plans are being assumed by the Purchaser).
Please Note that the deadline to file a claim is 5:00 pm (Toronto Time) on June 3rd 2010. All employee and former employee claims must be filed by that date.
We will be assisting current and former non-unionized employees of the Canwest LP Entities who are obliged to file their claims at this time with preparing and filing their proofs of claim. Canwest will be responsible for the legal fees incurred by Representative counsel in carrying out their prescribed mandate. Accordingly, you are not required to pay any legal fees.
If you are a former employee or current non-unionized employee who believes they have a claim against Canwest and have either not contacted us or completed the questionnaire and provided us with the requested documents, it is critical that you immediately complete the questionnaire at the Canwest Claims Portal (Portal no longer available – please contact us at 613-238-8080 for assistance) and provide us the required documents.
As your court-appointed legal counsel, we will use that information on a confidential basis to assist you in the timely filing of your claim at no cost to you personally.
If you have already contacted us and not provided the requested documents or information, we will have sent you an email at the address provided to& us requesting the missing documents and information. We urge you to respond to that email as soon as possible. Non-unionized employees or former employees with questions can contact us at our confidential email address at cser@nelliganlaw.ca or by calling Leigh Norton at 1-833-892-3331.
Creditor Meeting to Vote on AHC Plan will take place on June 10, 2010
The Court has approved the holding of a meeting of the unsecured creditors on June 10, 2010. The meeting will allow for unsecured creditors to vote on the AHC Plan.
Unsecured creditors who have already filed a proof of claim will receive a package of meeting materials that will contain the necessary documents to vote at the meeting by proxy and make any necessary elections. The documents will also be available on the Monitor’s website.
In order to for the AHC Plan to be approved by the unsecured creditors, a double majority of the unsecured creditors, consisting of 50% + 1 of the creditors (counted by head) and 66.67% of dollar value of the debt must vote in favor of the plan.
If the AHC Plan is approved, all unsecured creditors, including employee creditors, with claims of less than $1,000 will receive a cash payment for the full value of their proven claim. Creditors with claims of less than a $1000 are deemed to vote in favor of the AHC Plan. Unsecured creditors, including employee creditors, with proven claims of $1,000 or more will be able to elect to either receive a pro rata distribution of shares in the Purchaser or be paid $1000.00.
If you are unsecured creditor with a proven claim of over $1000.00 and you wish to be paid the $1000.00 instead of receiving shares in the new company, a Cash Election Form must be filed by no later than 5:00pm on June 7, 2010. The Cash Election Form will be available on the Monitor’s website.
In addition unsecured creditors who wish to vote at the creditor meeting and are not able to attend the meeting in person must complete a Proxy Form by no later than 5:00pm on June 7, 2010. The Proxy Form will also be available on the Monitor’s website.
Finally, unsecured creditors who are entitled to receive shares will also have to file a completed Declaration as to Canadian Residency (the form will also be available at the Monitor’s website). The deadline to file the form is not known at this time. However, we recommend that unsecured creditors do not wait to file and the form immediately once it is available.
May 12, 2010 – Bid to acquire substantially all assets of LP Entities by AHC
The LP entities have announced that they will be seeking Court approval on May 17, 2010 of a bid to acquire substantially all of the assets of the LP Entities by members of an ad hoc committee (the “AHC”) of holders of 9.25% senior subordinated notes.
The Monitor and the LP Entities’ Chief Restructuring Advisor have determined that the bid by members of AHC (“AHC Bid”) constituted a Superior Cash Offer, as defined in the Sale and Investor Solicitation Process (the “SISP”).
The AHC Bid seeks to acquire substantially all of the financial and operating assets of the LP Entities and the shares of National Post Inc. for an effective purchase price of approximately $1.1 billion including $950 million in cash funding.
The proceeds from the AHC Bid will allow for a full pay-out of the approximately $925 million debt owed by the LP Entities to its senior secured lenders.v In our capacity as Representative Counsel for continuing and former salaried employees and retirees of the LP Entities we are in the process of reviewing the AHC bid and its impact on continuing and former salaried employees and retirees.
In the interim, the key terms of the AHC bid are as follows:
- The bid maintains the existing newspaper operations
- Will provide continuing employment to existing full time employees and substantially all part time employees of the LP Entities
- Non-unioinzed employees are to be offered employment on substantially similar terms and conditions
- The new company will have the option exercisable before May 30 to not offer employment to up to 10% of the part time employees
- The new company will assume all employee pension and benefit plan
- The AHC bid also provides unsecured creditors with cash or shares on a pro rata basis up to 45% of the equity in the new company.
- All creditors with claims of less than $1,000 will receive a cash payment for the full value of their proven claim.
- Unsecured creditors of the LP Entities with proven claims of $1,000 or more will be able to elect to receive a pro rata distribution of shares in the entity that will purchase the assets of the LP Entities.
- The shares will have a purchase price of $13.3
- The AHC bid contemplates that the new company’s shares will be publicly traded.
- There will be an amended claims process to capture employee claims post January 8, 2010
- Unsecured Creditors with proven claims will be able to vote on the bid at a Creditors Meeting tentatively scheduled for June 10, 2010.
View the May 17, 2010 Motion Record regarding the AHC Bid and the 7th Monitor’s Report.
May 7, 2010 – Proof of Claims filed
In our capacity as Representative Counsel and pursuant to the Claims Procedure Order, we have now filed proof of claims on behalf of the following former employees:
- former employees who were in receipt of SERA payments;
- former employees who were terminated on or before January 8, 2010 and who were in receipt of salary continuance from the LP Entities that has been discontinued as a result of the commencement of the CCAA proceeding.
The next step in the process is for the LP Entities to accept, revise or reject the filed Proofs of Claim. If the LP Entities do revise or reject a Proofs of Claim, it will send out a Notice of Revision or Disallowance by May 28, 2010.
We will review any Notice of Revision and Disallowance received by former employees and assist in determining the appropriate response.
If you do receive a Notice of Revision and Disallowance, please do not respond to any Notice of Revision until you have had the benefit of our legal advice.
April 13, 2010 – Court approves Claims Procedure Order
The Ontario Superior Court of Justice – Commercial List in Toronto approved yesterday the Canwest LP Entities’ motion for a Claims Procedure and for an Order extending the stay period from April 14 to June 30, 2010.
The Claims Procedure requires only the following former employees to file a proof claim by no later than 5:00 p.m. Eastern Standard Time on May 7, 2010:
Current employees, retirees and former employees not on an discontinued salary continuance from Canwest need not file a claim at this time.
We will be assisting former non-unionized employees of the Canwest LP Entities who are obliged to file their claims at this time with preparing and filing their proofs of claim.
Canwest will be responsible for the legal fees incurred by Representative counsel in carrying out their prescribed mandate. Accordingly, you are not required to pay any legal fees.
Shortly after April 12, 2010, if you are a former employee in one of the two groups described above, you should receive a Claims Package from Canwest. The package will contain a letter setting out what Canwest believes is the value of your claim. As your counsel, Canwest will be providing us with a copy of the letter. We will review the letter and assist you in determining the value of your claim.
We recommend that you do not file the proof of claim until you have received legal advice.
In order to assist, with our valuation, it is important that former non-unionized employees in the above groups complete the questionnaire that can be found on our Canwest Claims Portal (Portal no longer available – please contact us at 613-238-8080 for assistance) and provide the required documents.
As your court-appointed legal counsel, we will use that information on a confidential basis to assist you in the timely filing of your claim at no cost to you personally.
A copy of the Claims Procedure Order can be found here.
April 8, 2010 – Canwest LP Entities seeking Court’s approval for Claims Procedure
The Canwest LP Entities will be bringing a motion on April 12, 2010 seeking the Court’s approval for a Claims Procedure and extending the stay period from April 14 to June 30, 2010. The proposed Claims Procedure, if approved, requires former employees with a claim for unpaid severance against the Canwest LP Entities that arose on or before January 8, 2010 to file a proof claim by no later than 5:00 p.m. Eastern Standard Time on May 7, 2010. Current employees and retirees who have not experienced any changes to their entitlements need not file a claim at this time.
There may be modifications to the Claims Procedure and the individuals to whom it applies when the Court decides the matter on April 12, 2010. We will keep you advised with timely updates to this web site.
Shortly after April 12, 2010, you should receive a Claims Package developed by Canwest. However, we recommend that you obtain advice as to the full scope of your lawful entitlements prior to signing and filing your claim.
We will be assisting former non-unionized employees of the Canwest LP Entities who are obliged to file their claims at this time.
We recommend that non-unionized employees, former employees and retirees who believe they have a claim against one of the Canwest LP Entities complete the questionnaire that can be found on the Canwest Claims Portal. (Portal no longer available – please contact us at 613-238-8080 for assistance)
As your court-appointed legal counsel, we will use that information on a confidential basis to assist you in the timely filing of your claim at no cost to you personally.
March 26, 2010 – Order Amending the Initial Order and Approving Certain Employee Arrangements
On March 26, 2010, the Ontario Superior Court of Justice – Commercial List in Toronto granted the LP Entities’ motion to provide Canwest with the authority to offer retention payments to certain employees. The retention program has been approved to provide payments to selected employees up to a maximum total amount of $1 million in the aggregate. In addition, the Court also approved changes to the existing Management Incentive Plan (“MIP”) to reflect changes in the management of the LP Entities. The MIP provides retention payments to selected senior management employees. A copy of the Court’s Order can be found by clicking here.
Employees who have been or are offered retention payments with questions or concerns regarding the payments, any conditions pertaining to same or any other matter can contact Representative Counsel at no cost through our confidential email address at cser@nelliganlaw.ca. Your message will be responded to within one business day. Please use personal email.
March 5, 2010 – Nelligan O’Brien Payne LLP and Shibley Righton jointly appointed as Representative Counsel
On March 5, 2010, the Ontario Superior Court of Justice – Commercial List in Toronto appointed Nelligan O’Brien Payne LLP (Ottawa) and Shibley Righton (Toronto) as Representative Counsel for continuing and former salaried employees and retirees of the LP Entities who are not represented by a union, or were not represented by a union at the time of their separation from employment by Canwest Publishing Inc. and certain other entities (the “LP Entities”), in the ongoing insolvency proceedings of the LP Entities under the Companies’ Creditors Arrangement Act (the “CCAA Proceedings”).
A copy of the Court Order can be found here.
Click here for responses to frequently asked questions
February 22, 2010 – Motion for Representation Order Heard On February 22, 2010
The Canwest Salaried Employee and Retiree Group’s (CSER) motion for a Court Order appointing the Steering Committee as representatives, and Nelligan O’Brien Payne LLP LLP and Shibley Righton LLP as representative counsel in the CCAA proceedings on behalf of all members of CSER, and to seek reimbursement of related legal fees and disbursements from CANWEST, was heard by Justice Pepall of the Toronto Commercial Court on Monday February 22, 2010.
After hearing the submissions of counsel for CSER, Canwest, the Monitor and other parties, Justice Pepall reserved her decision on the motion. We expect to receive Justice Pepall’s decision in the near future and will update our website once the decision is released.
In the interim, if you are interested in joining the CSER, please provide us with your name and contact information. Send all information to cser@nelliganlaw.ca
January 8, 2010 – Nelligan O’Brien Payne LLP retained by former salaried employees and retirees of CANWEST
Nelligan O’Brien Payne LLP has been retained by former salaried employees and retirees of CANWEST regarding CANWEST’s recent January 8, 2010 filing for protection under the Companies Creditors Arrangement Act (CCAA).
Former employees, retirees and their beneficiaries are particularly vulnerable creditors of the company. Given the discontinuance of severance packages and fixed incomes, without a representation order former employees and retirees have no ability – either individually or collectively – to pay for the professional representation necessary to represent their interests and have their voices heard in the CCAA proceedings.
As a result former salaried employees and retirees have joined together to form the Canwest Salaried Employee and Retiree Group (CSER) and have instructed Nelligan O’Brien Payne LLP to apply for a Court Order appointing our firm as representative counsel in the CCAA proceedings for all members of CSER with respect to all issues pertaining to Canwest’s insolvency and to seek reimbursement of related legal fees and disbursements from CANWEST.
If you are interested in joining the CSER, please provide us with your name and contact information. Send all information to cser@nelliganlaw.ca
- former employees who were in receipt of SERA payments;
- former employees who were terminated on or before January 8, 2010 and who were in receipt of salary continuance from the LP Entities that has been discontinued as a result of the commencement of the CCAA proceeding.
