Nortel's US Unit Moves To Ax European Claims

Law360, Wilmington (May 15, 2013, 9:39 PM EDT) -- Nortel Networks Corp.'s U.S. unit on Tuesday moved to eradicate billions of dollars worth of claims filed by European entities, contending that the parties are trying to appropriate funds that should rightfully go to creditors of the defunct telecom's American arm.

In a pair of objections filed in Delaware bankruptcy court, the U.S. unit and its creditors committee joined in asking the court to disallow the “nearly identical claims” of Nortel's European affiliates and a pension fund representing U.K. employees, asserting that two groups have improperly...
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