Nortel Lays Out Battle Plan For $7.3B Cash Fight

Law360, Wilmington (March 27, 2013, 10:51 PM EDT) -- Nortel Networks Corp. and its global affiliates, informed that their battle over $7.3 billion in liquidation proceeds will be resolved at a fall trial supervised by Delaware and Canadian bankruptcy courts, updated the Delaware court Wednesday on their proposed plans of attack.

During a joint teleconference earlier this month, U.S. Bankruptcy Judge Kevin Gross and Chief Justice Geoffrey Morawetz of the Ontario Superior Court rejected a bid for arbitration made by Nortel's European units and ordered attorneys for the various parties to begin preparing for a...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.