Daily News: January 6, 2014

WSJ: Bankruptcy Court to Weigh Nortel Settlement

The Wall Street Journal reported Nortel Networks will ask a bankruptcy judge to sign off on a settlement with key creditors in a fight over billions of dollars.

The Journal said Nortel would pay $75 million under the settlement, which would also allow the company to shake nearly $2 billion of claims filed in its Chapter 11 bankruptcy case for a fraction of the amount asserted by representatives of French creditors, British pensioners and other European creditors, court papers say.

To read the entire Journal article, click here.