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Showing posts in International Bankruptcy Issues

The Assets of “One Nortel” To Be Allocated Equitably On A Modified Pro Rata Basis

In re Nortel Networks, Inc., Case No. 09-10138 (KG), 2015 WL 2374351 (Bankr. D. Del. May 12, 2015)

In an “unprecedented, complex, and massive dispute involving highly integrated multinational enterprises,” Judge Gross of the Delaware Bankruptcy Court, along with Justice Newbould of the Ontario Superior Court of Justice (Commercial List), issued simultaneous opinions after a truly unique twenty-one day cross-border trial, determining how to allocate $7.3 billion to creditors of Nortel Networks Corporation (“NNC”), the indirect parent of more than 130 subsidiaries, located in more than 100 countries.  Consistent with its unprecedented nature, Judge Gross Read More