Nortel Pensioners Appeal Stay Of $3B UK Suit

Law360, New York (March 23, 2010, 1:05 PM EDT) -- A U.K. pension plan has moved forward with an appeal in the bankruptcy of Nortel Networks Corp., fighting to overturn a ruling enforcing a stay against an overseas administrative proceeding over a more than $3 billion shortfall in benefits funds.

The trustee of Nortel's U.K. Pension Plan and U.K. agency the Pension Protection Fund filed an appeal with the U.S. District Court for the District of Delaware on Monday after they failed to convince a judge to allow them to appeal directly to the U.S. Court...
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