$$ Nortel Networks zum Pennykracher $$
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Nortel US in 'Milestone' Settlement of UK, European Claims
Deal Settles Litigation That Has Been Tying Up $9 Billion in Cash
By
Peg Brickley
Dec. 17, 2013 4:16 p.m. ET
Nortel Networks Corp.'s U.S. division said Tuesday it has reached a "milestone" deal with European creditors and representatives of British pensioners, settling some of the "costly and contentious litigation" that has been tying up more than $9 billion in cash.
The settlement ends fights over how much European creditors and representatives of British retirees are owed by the U.S. arm of the defunct...
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