I'll try to keep it even shorter.
Thank you for the opportunity again. This is very much the human face that has made the decision so difficult and agonizing. When we filed in January, the decision was not made until January 13. I do have a family, with three sons. What I keep telling them is that if you want to accomplish something significant, you have to give it everything you have, and we certainly did that. And I always say just because you do, it does not guarantee success.
Phase one can give assurances to all the employees, former employees, pensioners--who are doing exactly the same level, they're giving everything they have. We're asking customers, suppliers, employees to work with us through this process to optimize, within the current constraints, the values for the liabilities that Nortel has. It's a major imperative. It's the only reason I'm going through this process. You have my personal commitment to that. I've expressed it to the employees on an ongoing basis. I cannot express in any more ways the level of empathy and respect that I have for the 100-plus years that Nortel has been here.
We gave everything we had. It's a different game plan. Still, many of the assets of the company are superb. We're trying to optimize them for the benefit of all, very specifically, employees and stakeholders. Mr. Tay can attest to lots of discussions that we've had internally.
There were a couple of very specific questions on the LTD. We have 409 people. We're continuing those payments. We're looking for options to continue those without any guarantees to deliver a specific update on that.
I have a very quick comment on pensions. We did stop the pension plan in Nortel in 2006. For many large companies that go through different stages, to have 25,000 people paying for 100,000-plus pensioners is a very significant risk. We have changed to defined contributions, which are defined benefits. I believe that it's a smart way to be looking at managing pension assets for employees.
Lastly, there was a comment that we did not make an accurate statement on priorities. I would like to ask Mr. Tay to comment on the $200 million.