Nortel mediation collapse leaves UK scheme empty-handed

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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...

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