Judge OKs Retirement, Disability Groups In Nortel Ch. 11

Law360, Wilmington (June 21, 2011, 2:05 PM EDT) -- A Delaware bankruptcy judge on Tuesday approved the appointment of two separate committees to represent the interests of retirees and disabled employees of Nortel Networks Inc. as the defunct telecom prepares to modify, or potentially terminate, their benefit plans.

U.S. Bankruptcy Judge Kevin Gross signed off on the debtors’ request to appoint the retiree committee, and ordered that the long-term disabled employees form their own, rebuffing concerns about the cost and efficiency of two distinct groups raised by the official committee of unsecured creditors.

The benefit...
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