Teck / Cominco Pension Plan conversion

Information about this Class action

This class action alleges that the defendants breached their duty of good faith, fiduciary and statutory duties, and were deceitful and negligent in their conduct prior to each class member’s election to transfer from the defined benefit pension plan to the defined contribution pension plan.

 

Case Name Weldon v. Teck Metals Ltd. et al.
Court Supreme Court of British Columbia
Date Filed July 14, 2009
Class Members All persons, wherever they reside, who are:

  1. salaried, pension-eligible, non-union employees of Teck Metals Ltd., Teck Resources Limited, Cominco Resources International Limited, CESL Limited or Agrium Inc., or
  2. former salaried, pension-eligible, non-union employees of Teck Metals Ltd., Teck Resources Limited, Cominco Resources International Limited, CESL Limited or Agrium Inc.,

who terminated employment, by retirement or otherwise, in such a manner that they would have been entitled to defined pension benefits if they had remained members of the defined benefit pension plan,who elected to move from the defined benefit pension plan to the defined contribution pension plan effective on or about January 1, 1993 including the personal representatives of any who have died and excluding Judy Erickson and Louise Malkin.

Class Counsel David Blair, Victory Square Law Office LLP
Reidar Mogerman, Camp Fiorante Matthews Mogerman

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July 24, 2015 Update

Dear class members:

This morning, the Court approved the settlement agreement, the plan to distribute settlement funds, class counsel’s fees, and the additional compensation for Jim Weldon and Len Bleier.

This means that the period of time to appeal your share of the settlement is now running. You have the right to appeal or challenge your estimated share of the settlement funds if the information we have about you (date of birth, 1992 pensionable earnings, years of service, etc.) is incorrect. If any of that information is incorrect, you must let us know by August 24, 2015. To do so, please call or email Kimberley Hill at 1-800-689-2322 or khill@cfmlawyers.ca.

We expect to be able to start sending out cheques after August 24, 2015. You will receive the amount set out in your June letter or possibly a small amount more.

If you have any questions or concerns, please call or email Kimberley Hill at 1-800-689-2322 or khill@cfmlawyers.ca.

More information about the settlement, the plan to distribute settlement funds, class counsel’s fees, and the additional compensation for Jim Weldon and Len Bleier is available on our Frequently Asked Questions page.

The orders are currently at the courthouse. We will post copies here when the court returns them to us.

 

Important Documents

Documents related to the Settlement

Pleadings

Orders and Decisions of the British Columbia Supreme Court

Orders and Decisions of the British Columbia Court of Appeal

For Further Information

Please contact Allison Tremblay