nortel

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware handed down an important ruling last week that turned aside most of an unusual challenge to the fees and expenses of an indenture trustee in the long-running Nortel chapter 11 case.  The dispute has been watched closely by financial institutions that serve as trustees on bond issuances.  (Kelley Drye & Warren LLP represented a large creditor in the Nortel case but took no part in the issues discussed here).

Financial Support Directions and Contribution Notices issued by The Pensions Regulator after a target company has gone into administration give rise to liabilities that rank as administration expenses under Rule 2.67(1)(f) Insolvency Rules 1986. So found the Court of Appeal...

The administrators of 20 Lehman and Nortel companies face meeting Financial Support Directions (FSDs) and Contribution Notices (CNs) from The Pensions Regulator as an expense of the administrations because of the judgment handed down by Mr Justice Briggs. The implications...

FierceWireless reports: "Nortel Networks, despite having $2.6 billion in cash, is contemplating bankruptcy because of uncertainty about some of its long-term financial problems as well the future market for its voice-only wireless equipment, which has seen a steep drop in demand recently."

Neonode, Inc.'s Swedish subsidiary, Neonode AB, filed a petition for bankruptcy in compliance with the Swedish Bankruptcy Act (1987:672) December 9, 2008. Neonode is a cell phone manufacturer, with patented touch screen technology according to this article posted at IntoMobile.