A few committee members said they have heard from retired Nortel employees who are concerned about their pensions.

Anthony Rota, the Liberal Member of Parliament for the Northern Ontario Riding of Nipissing-Timiskaming, is one of those members, and asked Riedel several questions.

"Will Nortel to continue to exist after this?" Rota asked, and will Nortel remain as a research company that licences patents.

"If so where will the income stream go to? Shareholders? Pensioners? Or to a third party taking over a shell company?"

Riedel said the "principal businesses of Nortel will be sold," adding he expects bids to be placed by the third quarter.