Canada’s Nortel Networks and its creditors are seeking to block an attempt from the UK pensions regulator, which would see it pursue a claim for up to £2.1bn, reports the Financial Times.
Nortel filed for bankruptcy in January 2009 and is now fighting…
Canada’s Nortel Networks and its creditors are seeking to block an attempt from the UK pensions regulator, which would see it pursue a claim for up to £2.1bn, reports the Financial Times.
Nortel filed for bankruptcy in January 2009 and is now fighting off the claim against global company assets, which would cover the shortfall in its UK pensions scheme. Nortel reportedly had insufficiently funded pension plans at the time of the bankruptcy filing.
The hearing is due to take place in the Ontario Superior Court on February 25.
