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UPDATE – Bankruptcy Court Continues To Urge Nortel Parties To Come To An Agreement

In re Nortel Networks, Inc., Case No. 09-10138 (KG) (Bankr. D. Del. July 6, 2015)

The Delaware Bankruptcy Court heard day-long argument on eight issues raised in motions for reconsideration of the Court’s recent Allocation Opinion—previously discussed here—and issued a Memorandum Order denying reargument on two issues, granting minor clarifications to the Allocation Opinion on four issues, and denying reargument as premature on two issues.  While the Memorandum Order is not all that legally significant, Judge Gross again urges the parties “to discuss how to refine the issues the Movants have raised.  Failing those discussions, the Court recognizes that appeals and therefore the expenditure of time and money may result.”  Mem. Order at 6.  See also Allocation Opinion at 113 (“It is now the parties who have to make a decision: accept the Court’s rulings and give them effect, take appeals and thereby prolong the hardship and deplete the remaining estate, or utilize the Courts’ rulings to resolve any remaining differences.”).  The deadline for parties to file an appeal is now July 20, 2015.  We wait to see if the parties heed the Court’s repeated advice.