March 8 A U.S. judge and a Canadian judge ruled
on Friday they will jointly decide a multibillion-dollar dispute
in the Nortel Networks bankruptcy through a simultaneous
Kevin Gross, a U.S. Bankruptcy Court judge in Wilmington,
Delaware, told a conference call held jointly with a Canadian
judge that the litigants should prepare for a trial late this
Administrators for former Nortel units in Europe had
requested the judges send the matter to binding arbitration.
Gross and Ontario Superior Court Justice Geoffrey Morawetz
in Toronto have been overseeing the liquidation of the former
The company has piled up $9 billion in cash but has not been
able to resolve how to divide the money between insolvency
proceedings in Canada, the United States and several countries
The money is claimed by tens of thousands of retirees,
former suppliers, governments and hedge funds.