Nortel Seeks Mediator To Break Benefits Standoff

Law360, Wilmington (March 29, 2012, 8:29 PM EDT) -- Nortel Networks Inc. asked a Delaware bankruptcy judge on Wednesday to appoint a mediator to help the defunct telecommunications company sort out a graceful exit from its benefit obligations to retirees and disabled employees.

In a motion filed with the court, the company complained that two committees — representing some 3,300 retirees and 240 disabled employees — are stalling in negotiations despite repeated settlement offers, requiring a neutral mediator to step in.

“The committees’ relentless questions, requests for clarifications, resistance to meeting and lack of response...
To view the full article, register now.