Finance committee  I think that's a promise I can keep.

Finance committee  Yes, that's correct. Basically, we took out clause H2, which was our ability to argue that if there are bankruptcy law changes.... That will be in front of the court tomorrow, and we hope to have an agreement.

Finance committee  It is in front of the Ontario court tomorrow. So that's said and done. Looking to the future and what faint hope we have, it would be for federal bankruptcy law changes that would be retroactive.

Finance committee  No. The bankruptcy laws are under federal jurisdiction, and that would help the Nortel pensioners.

Finance committee  Yes.

Finance committee  It would be too late for us, unless there were retroactive clauses in those bills.

Finance committee  Thank you very much, Mr. Chairman. I didn't think I'd be back so soon in front of this committee. I'll be brief, to respect the other witnesses. The Nortel pensioners have met, and I wanted to give you some idea of some decisions they've had to make over the last five days.

Finance committee  No, it hasn't--the basic pension plan.... There are other plans where people have had reductions, but for the majority of people, for the--

Finance committee  No, we've been notified.

Finance committee  In fact we've been under negotiation with the corporation to stretch that out to give us some time.

Finance committee  I'm certainly not an expert in this area, but I know there are proposals around that would actually stop some of the downloading that happens in corporations to the public insurance funds. When I went in front of the finance committee of the Ontario Legislature to talk about th

Finance committee  Yes, we believe it would. Nortel is under the CCAA right now but hasn't moved under the Bankruptcy and Insolvency Act.

Finance committee  We don't know when it's going to happen, quite frankly. There is no date set. I'd like Madame Urquhart to respond to something you said earlier. I'm stealing from your time, I'm sorry.

Finance committee  It all depends on what's left in the estate, the Canadian estate. It would certainly improve our lot. And again, we don't know what the answer is going to be, but right now we're pitted against $4 billion in bonds and a $2-billion asset to the U.S. estate, and the list goes on in

Finance committee  That's correct.