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International News

Nortel Creditors Start Mediation on Splitting $9 Billion

Creditors of Nortel Networks Corp. (NRTLQ), the telecommunications company being liquidated in bankruptcy, gathered in Toronto, Canada to try again to agree on how to split $9 billion in cash. The weeklong mediation pits Nortel’s Canadian and U.S. entities, and their creditors, against the company’s European units and their creditors, who include retirees fighting to retain pensions. Read More