WINNIPEG – A group of MTS Allstream pensioners will ask the Supreme Court to overturn a recent Manitoba Court of Appeal decision that sided with the company in a lawsuit regarding one of its pension plans.
As Cartt.ca reported, this litigation was launched by a group of unions and retirees around the disposition of a $43-million pension surplus that existed when the company was sold to the public in an equity offering in 1997. MTS appealed the original court decision issued on January 19, 2010 and the Manitoba Court of Appeal ruled in its favour in February.
The company said Tuesday that it is “disappointed that the plaintiffs are trying to pursue this matter further” and should the Supreme Court agree to hear this appeal, will “challenge (Tuesday's) request vigorously”.
The Supreme Court is expected to announce whether it will grant the plaintiff group leave to appeal later this year, though any decision would not be expected until the end of 2013 or the first half of 2014. MTS Allstream said that there would be no expected cash or accounting impact to the company during such period.
