Teachers’ accepts AUD$20 million Intoll settlement offer
TORONTO (March 9, 2010): The Ontario Teachers' Pension Plan (Teachers') today confirmed that it has accepted an AUD$20 million litigation settlement offer from Intoll Group (formerly known as Macquarie Infrastructure Group).
Teachers' initiated a legal action against Macquarie Infrastructure Group (MIG) in 2006 alleging breach of contract.
"We are pleased that Intoll has agreed to settle this matter," said Stephen Dowd, Teachers' Senior Vice-President, Infrastructure.
The Ontario Teachers' Pension Plan is the largest single-profession pension plan in Canada. An independent organization, it invests the pension fund's assets and administers the pensions of 284,000 active and retired teachers in Ontario.
Director, Communications and Media Relations
Ontario Teachers' Pension Plan