Canadian Creditors Say Nortel Deal Could Hurt Them

Law360, New York (December 20, 2013, 6:43 PM ET) -- The proposed settlement between Nortel Networks Corp.’s U.S. unit and U.K. pensioners has raised the concern of Canadian creditors, who said in bankruptcy court filings Thursday that it could interfere with the discovery and research already conducted for a May trial.

Representatives for Nortel’s Canadian bankruptcy proceeding argued in court papers that the Canadian parties could be put at a significant disadvantage if the settlement allows the U.S. and European units to modify their positions on a massive dispute over how Nortel’s $7.5 billion in recoveries...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required