Nortel seeks PPF protection

Giovanni Legorano
clock 19 January 2009 •

Nortel UK has approached the Pension Protection Fund seeking rescue for its 43,000-member scheme, after the company was placed into administration last week.

The PPF confirmed it had received a S120 notice from Nortel. The PPF said it will analyse the information and decide whether the scheme would enter the assessment period. Ernst and Young, Nortel's UK...

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