Nortel Mediation Hits Dead End, Leaving $9B Untouched

Law360, Wilmington (January 25, 2013, 3:20 PM ET) -- The mediation over how to divvy up $9 billion in liquidation proceeds among retirees and other creditors of Nortel Networks Corp. and its global affiliates ended without a deal Thursday, leaving the defunct telecom with no clear path out of a tangled international bankruptcy process.

After nearly two weeks of talks in Toronto, Canada-based Nortel and its U.S. and European units failed to reach a compromise, according to a statement from the mediator, Chief Justice Warren K. Winkler of the Ontario Superior Court of Justice....
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