Nortel Units Appeal Venue Decision In $7.3B Asset-Sale Feud

Law360, Chicago (April 18, 2013, 2:17 PM EDT) -- Nortel Networks Corp.'s European units on Wednesday appealed a Delaware bankruptcy judge’s decision to forego arbitration and, instead, hold a cross-border trial in conjunction with a Canadian court to decide how to split $7.3 billion in cash between the company’s far-flung affiliates.

The appeal — lodged in Delaware district court — challenges U.S. Bankruptcy Judge Kevin Gross’s March opinion, according to a notice filed with the court, which found that an agreement between the Nortel factions designed to expedite the sell-off of the Canadian company’s assets...
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.