Evidence of meeting #38 for Finance in the 40th Parliament, 2nd Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was nortel.
A recording is available from Parliament.
9:40 a.m.
NDP
Thomas Mulcair NDP Outremont, QC
We'd be very thankful to you if you did.
We're trying to also find out what the actual state of play is here. Is it possible that you've been on the Hill in recent months since the January filing? Have you been up here on Parliament Hill having any meetings since January?
9:40 a.m.
President and Chief Executive Officer, Nortel Networks Corporation
We've had a number of meetings: November, December, January, and March....
9:40 a.m.
NDP
9:40 a.m.
President and Chief Executive Officer, Nortel Networks Corporation
Yes, in private discussions, yes.
9:40 a.m.
NDP
Thomas Mulcair NDP Outremont, QC
Well, actually, we get to ask you about them here. Who were those discussions with? Which ministers did you meet? You have to answer.
9:40 a.m.
President and Chief Executive Officer, Nortel Networks Corporation
I mean, we've spoken with a number of them.
9:40 a.m.
President and Chief Executive Officer, Nortel Networks Corporation
We've spoken with Industry, Trade—
9:40 a.m.
NDP
Thomas Mulcair NDP Outremont, QC
Mr. Clement is Industry. Who else? Have you spoken to the Prime Minister?
9:40 a.m.
President and Chief Executive Officer, Nortel Networks Corporation
Mr. Flaherty.
9:40 a.m.
President and Chief Executive Officer, Nortel Networks Corporation
I met the Prime Minister as part of Industry, but I have not spoken specifically with respect to Nortel.
9:40 a.m.
NDP
Thomas Mulcair NDP Outremont, QC
You have to answer this question: What was the nature of those conversations?
9:40 a.m.
President and Chief Executive Officer, Nortel Networks Corporation
There was the status of the company, the status of the industry—
9:40 a.m.
President and Chief Executive Officer, Nortel Networks Corporation
—and also any potential areas of collaboration.
9:40 a.m.
NDP
Thomas Mulcair NDP Outremont, QC
Did you talk to them about the fact that if you don't pay severance, people will get employment insurance, and that's a liability for the state, as opposed to the company?
9:40 a.m.
President and Chief Executive Officer, Nortel Networks Corporation
That certainly was one of the items. It was also discussing areas of more substantive systems. But those discussions did not end up in any concrete....
9:40 a.m.
NDP
Thomas Mulcair NDP Outremont, QC
Specifically, what was the nature of your discussion with regard to severance and EI, and with whom was it?
9:40 a.m.
President and Chief Executive Officer, Nortel Networks Corporation
There was not any specific discussion of pensions or severance—
9:40 a.m.
President and Chief Executive Officer, Nortel Networks Corporation
—in the discussion. Obviously, we discussed the impact on employees and the expected reductions if we were to file, but we did not have a specific discussion on severance.
9:40 a.m.
NDP
Thomas Mulcair NDP Outremont, QC
Did you discuss severance versus EI with Mr. Clement or Mr. Flaherty?
9:40 a.m.
President and Chief Executive Officer, Nortel Networks Corporation
I said that there was not a specific discussion on severance. There were discussions on the overall impact on employees.
9:40 a.m.
NDP
Thomas Mulcair NDP Outremont, QC
Did they offer anything to you with regard to the existing schemes under the Bankruptcy and Insolvency Act? In other words, was there any attempt by the Canadian government to get involved? I notice that they're not there at the hearings, but the U.S. government is.