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.