Nortel mediation collapse leaves UK scheme empty-handed

clock

The Trustee of the Nortel Networks UK Pension Plan and the Pension Protection Fund have been left empty-handed after an international mediation failed to settle the dispute over the assets of collapsed telecoms giant Nortel Networks Corporation.

Representatives from the UK pension scheme and the Pension Protection Fund travelled to Canada two weeks ago in a bid to secure more than $2bn (£1.3bn) from an international mediation (PP Online 14...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Law and Regulation

Targeted support 'cannot come soon enough' for workplace pensions

Targeted support 'cannot come soon enough' for workplace pensions

Easing the regulatory regime could ‘unlock the gates’ to support those not accessing advice

Jonathan Stapleton
clock 30 June 2025 • 2 min read
FCA unveils targeted support plans

FCA unveils targeted support plans

Regulator also asks trustees for views as to how they might want to provide targeted support

Professional Pensions
clock 30 June 2025 • 3 min read
PRAG consults on pensions SORP amendments

PRAG consults on pensions SORP amendments

Move follows FRC amendments to FRS 102 as well as changes to legislation and regulation

Jonathan Stapleton
clock 24 June 2025 • 1 min read
Trustpilot