Nortel Units Spar Over Venue For $7.3B Bankruptcy Feud

Law360, Wilmington (March 07, 2013, 5:19 PM ET) -- Nortel Networks Corp. and its global affiliates locked horns Thursday over whether the decision on splitting $7.3 billion between their respective creditors should be sent to arbitration or left in the hands of U.S. and Canadian bankruptcy judges.

The hearing — linked by video between courts in Delaware and Toronto — was the first skirmish in an international battle over the bulk of $9 billion raised in the defunct telecom’s liquidation, pitting Canada-based Nortel and its U.S. unit against European affiliates who favor arbitration.

The so-called...
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