Nortel Judge Finds Appeal 'Frivolous' in $7.5B Cash Row

Law360, Wilmington (May 07, 2013, 8:45 PM ET) -- A Delaware bankruptcy judge declared Tuesday the appeal lodged by Nortel Networks Corp.'s European units over their failed arbitration bid was “frivolous,” a move that prevents higher courts from taking control over how to divide the $7.5 billion in cash raised during the telecom's liquidation.

In March, U.S. Bankruptcy Judge Kevin Gross rejected the European entities' call for arbitration in favor of holding a cross-border trial to resolve the cash battle, and his determination Tuesday defused their assertion that bankruptcy court would have no jurisdiction over the underlying...
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