Disabled Nortel Workers Seek Distribution Of $28M Deal

Law360, Wilmington (April 11, 2013, 9:52 PM EDT) -- The committee representing Nortel Networks Inc.'s disabled employees asked a Delaware bankruptcy judge Thursday for permission to begin paying out the proceeds from the $28 million they received in a settlement with the defunct telecom in exchange for their benefits being cut off.

The benefit plans will be terminated June 30 and the disabled employees included in the deal cannot afford to wait until Nortel's now four-year-old liquidation ends to receive a distribution, the motion said.

“The LTD employees require access to the settlement funds soon...
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