Nortel Fights UK Fund Trustee's Bid To Sidestep Stay

Law360, New York (March 12, 2010, 4:47 PM EST) -- Bankrupt Nortel Networks Corp. is fighting renewed attempts by the trustee of its U.K. pension fund to participate in a U.K. pension administrative proceeding over a claimed $3 billion shortfall in the fund despite the automatic stay imposed by the bankruptcy court.

The trustee of Nortel's U.K. Pension Plan and U.K. agency the Pension Protection Fund have petitioned the U.S. Bankruptcy Court for the District of Delaware to allow them to appeal a ruling the court handed down in February enforcing the automatic stay with respect...
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