Get the latest news alerts: at Twitter.
Local Tech Wire
RESEARCH TRIANGLE PARK, N.C. – Canadian retirees and employees on long-term disability will receive benefits through the end of 2010 under a revised $57 million settlement.
A Canadian judge approved the agreement Wednesday, according to CBC news.
Severance payments also will be made to laid-off workers.
The original settlement between the bankrupt telecommunications gear maker and the workers was thrown out last week when the judge ruled it “unfair” to other creditors. The revised agreement removes a clause that the judge had objected to.
That clause would have enabled Nortel workers to benefit from future changes in Canadian bankruptcy laws.