January 24, 2013 / 9:40 PM / 5 years ago

Nortel Networks mediation ends without agreement on $9 bln

Jan 24 (Reuters) - Creditors of bankrupt telecoms company Nortel Networks failed to reach a deal to split $9 billion among U.S., Canadian and European insolvency and bankruptcy proceedings, according to a statement from the mediator on Thursday.

The mediator, Warren Winkler, the Chief Justice of Ontario, said in a brief statement that he concluded further efforts at mediation are no longer worthwhile.

Retirees in Canada and the United Kingdom have been fighting for a larger portion of the cash against the company’s bondholders.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below