Nortel Ch. 11 Stay On Pension Trustee Row Upheld

Law360, New York (March 31, 2011, 6:06 PM EDT) -- A Delaware federal judge rejected a bid Tuesday by Nortel Network Inc.’s U.K. pension plan trustee and a pension fund to overturn a bankruptcy stay barring their participation in a U.K. regulatory proceeding over $3.1 billion in Nortel pension funding.

Judge Leonard P. Stark of the U.S. District Court for the District of Delaware adopted a magistrate judge’s report and recommendation, affirming the bankruptcy court’s February 2010 order blocking the U.K. plan trustee and the Pension Protection Fund from taking part in the regulatory proceeding....
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