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Mealeys

MLex

Nortel Networks Inc.

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Case overview

Case Number:

1:09-bk-10138

Court:

Delaware

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

  1. December 01, 2016

    Nortel Ch. 11 Disclosure Cleared For $7.3B Bankruptcy Plan

    Nortel Networks Inc. won approvals Thursday for a long-delayed disclosure and confirmation schedule for the American share of a $7.3 billion global bankruptcy distribution, over muted objections in Delaware from the Pension Benefit Guarantee Corp. and a handful of other creditors.

  2. November 22, 2016

    Nortel Judge To Consider If PBGC Claim Is In Good Faith

    A Delaware bankruptcy judge presiding over the long-running Nortel case said Tuesday that he will hold a hearing to determine whether the U.S. Pension Benefit Guaranty Corp.'s $700 million claim was asserted in good faith weeks before the defunct telecom tries to finally exit Chapter 11.

  3. November 18, 2016

    Pension Fund Takes Issue With Nortel's Ch. 11 Disclosures

    The U.S. Pension Benefit Guaranty Corp., the main resistance to a settlement resolving Nortel Network Inc.'s long-running $7 billion allocation fight, on Friday opposed the defunct telecom's Chapter 11 plan disclosure statement, arguing it doesn't have enough information about how an uncommon move affects its and other creditors' claims.

  4. November 03, 2016

    Nortel Takes Aim At Fed Agency's Pension Fund Claim

    Nortel Networks cried foul Wednesday over the U.S. Pension Benefit Guaranty Corp.'s $700 million claim on the bankrupt telecom's estate, saying the "supersize" amount was thwarting the long-anticipated resolution of the debtor's $7.3 billion allocation fight.

  5. October 21, 2016

    Nortel Gets OK For First Steps Of $7.3B Allocation Deal

    A Delaware bankruptcy judge gave Nortel Networks Inc. the nod Friday for the first steps connected to the proposed resolution of its yearslong $7.3 billion sale-proceed allocation fight, but looming potential conflicts with the U.S. Pension Benefit Guaranty Corp. and others may still upset the deal.

  6. October 13, 2016

    US Pension Insurer Balks At $7.3B Nortel Allocation Deal

    A federal agency that insures employee pensions said Thursday that it is opposing a settlement that would resolve how bankrupt Nortel Networks Inc. and various affiliates of the failed telecom giant would divvy up $7.3 billion in proceeds between the U.S. and Canada.

  7. October 12, 2016

    Nortel Settles Cross-Border $7.3B Bankruptcy Allocation Fight

    Nortel Networks Inc. told the Delaware bankruptcy court Wednesday that its various affiliates around the world have resolved the prolonged and intense fight over how to divvy up the $7.3 billion in proceeds from its litigation, aiming to put to rest an expensive, nearly decadelong fight.

  8. July 07, 2016

    $200M Looks Too High For SNMP IP Claim, Nortel Judge Says

    A Delaware bankruptcy judge said Thursday that even though it appears software company SNMP Research International Inc. could be asserting up to $200 million in claims against Nortel connected to a years-old copyright infringement dispute, the sides ought to come to a settlement "far below" that figure.

  9. June 06, 2016

    Nortel OK'd For $14.2M Payout Amid 'Pandora's Box' Warnings

    Nortel Networks Inc. won Delaware bankruptcy court clearance Monday to pay $14.2 million in uncontested claims from its long-unresolved Chapter 11, with a company attorney saying the limited agreement avoided opening a Pandora's box of demands from other increasingly restless creditors.

  10. June 02, 2016

    Nortel Poised To Shell Out $14.2M In Ch. 11 Claims

    Nortel Networks Inc. asked a Delaware bankruptcy court on Wednesday for permission to pay a total of $14.2 million in allowed claims in its long-running Chapter 11 case, saying the deal avoids yet more litigation over its $7.3 billion in liquidation proceeds.