Nortel Networks cleared to end bankruptcy, distribute US$7 billion to creditors after years of litigation

WILMINGTON, Del. — Judges in Delaware and Canada approved on Tuesday a plan to pay more than US$7 billion to creditors of Nortel Networks, ending years of litigation over the former telecommunications company that filed for bankruptcy in 2009. The rulings by U.S. Bankruptcy Judge Kevin Gross in Wilmington, Delaware and Frank Newbould of the…

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