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Nortel Creditors Seek $4M Cut To Indenture Trustee Fee Bid

Law360, Wilmington (February 28, 2017, 7:45 PM EST) -- Two hedge funds that held senior notes issued by a Nortel Networks Inc. unit pushed the Delaware bankruptcy court on Tuesday to cut their indenture trustee’s roughly $8 million attorney fee request in half, arguing that Delaware Trust Co. didn’t properly discharge its duties.

During a daylong hearing in Wilmington, PointState Capital LP and Solus Alternative Asset Management LP argued that roughly $4 million of Delaware Trust’s fee request comes from work connected to the defunct telecom’s official committee of unsecured creditors, the massive allocation dispute...
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