High Court Won't Hear Row Over Nortel's $3B Pension Shortfall

Law360, New York (June 25, 2012, 4:26 PM EDT) -- The U.S. Supreme Court on Monday declined to hear a request by Nortel Network Inc.'s British pension plan trustee to override an automatic stay and challenge in a British regulatory proceeding over a $3.1 billion pension fund shortfall in the defunct telecom company's reorganization plan.

The trustee argued in an April 20 petition that the Third Circuit was wrong when it ruled that the British regulatory proceeding could not go forward because of the automatic stay imposed by the U.S. Bankruptcy Court as part of Nortel's...
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