Nortel $7.5B Cash Battle Delayed Until May

Law360, Wilmington (November 19, 2013, 8:16 PM EST) -- Nortel Networks Corp. units and their creditors will have an extra month to prepare for the battle over the defunct Canadian telecom's $7.5 billion in liquidation proceeds, as the judges set to preside over the cross-border trial agreed Tuesday to push the start back to May.

The trial had slated to kick off April 1, but nearly all the parties involved — including the U.S. and Canadian debtors, Nortel's European units and the committee of unsecured creditors — teamed up last week to request a postponement,...
To view the full article, register now.