Viskase Companies Inc. and Viskase Canada Inc., Post Retirement Benefits
This action was commenced in 2007 against Viskase Companies Inc. and Viskase Canada Inc. because of the elimination of the Companies' contributions to monthly premiums for post-retirement health benefits and life insurance for retirees at the Lindsay, Ontario plant. The reductions took effect in February 2007.
A settlement was reached reinstating paid life insurance coverage and compensating certain class members for the loss of their other paid benefits. This settlement was approved by Justice MacKinnon of the Ontario Superior Court of Justice. Class members can go to www.retireesclassaction.com for a full description of the settlement.
Michael Wright, Shaun O'Brien and Jorge Hurtado are counsel on this matter.