Judges reject Nortel bond holders' appeal against multi-billion dollar pension payout

clock

Judges in the US and Canada have rejected attempts by Nortel bond holders to overturn a ground-breaking decision in favour of members of the collapsed telecom company's pension scheme.

In May judges on both sides of the border ruled that the company's $7bn (£4.5bn) in assets should be divided between its global creditors on an equal footing. This would mean the scheme getting ...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Law and Regulation

Legal Review: The benefits and tax implications of scheme surplus rules

Legal Review: The benefits and tax implications of scheme surplus rules

Jonathan Hazlett looks at how trustees and employers can approach surpluses

Jonathan Hazlett
clock 30 April 2024 • 4 min read
The costs of delaying an increase in AE contributions

The costs of delaying an increase in AE contributions

Standard Life and WPI Economics report estimates costs across three key areas

Jonathan Stapleton
clock 26 April 2024 • 3 min read
TPR: Possible new DB offering for DC savers 'needs careful thought'

TPR: Possible new DB offering for DC savers 'needs careful thought'

Regulator considers if it can support Pension SuperHaven style solutions for DC savers

Jonathan Stapleton
clock 25 April 2024 • 3 min read
Trustpilot