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Nortel Bankruptcy Judge Sends Pension Dispute to Mediation

Nortel Networks Inc. (NRTLQ), the telecommunications company being liquidated in bankruptcy has received a favourable reply from the court and was granted permission to hire the services of a mediator in order to try to resolve a dispute over how to wind down its pension plan.  U.S. Bankruptcy Judge Kevin Gross in Wilmington, Delaware, U.S.A., approved a 60-day mediation period, during which Nortel, once the largest telephone equipment maker in North America, must negotiate with two committees representing retirees and workers who receive disability payments.

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