NEWS
 
Hearings to decide fate of Nortel assets
Lawyers to decide how to divide $7.3 billion
0 0
Canadian Press

Lawyers begin arguments today over how to divide $7.3 billion raised from the sale of the assets of failed Canadian technology giant Nortel.

The unprecedented case involving lawyers representing former employees, pensioners, creditors and others will play out on both sides of the border through a secure video link that lets judges in both Toronto and Wilmington, Del., simultaneously conduct the proceedings.

What's unclear is exactly how lawyers will present their cases to the judges, as most pretrial arguments and evidence has been sealed over the concerns of Nortel's corporate lawyers that proprietary agreements with former business partners could be exposed.

The trial is considered one of the biggest bankruptcy cases in Canadian history.

Filings with the courts say about 16,000 documents will be presented as exhibits -- whittled down from an initial three million -- and 110 witness depositions have been taken leading up to the trial.



Leave a comment:

· Subscribe to comments
Log in and be the first to comment!

@NEWSTALK1010

Facebook

DON'T MISS

IN-DEPTH AND INTERACTIVE

TICKETS ARE NOW SOLD OUT!

Aaron Waxman & Associates present the 4th annual IN-DEPTH AND INTERACTIVE -- May 19 at the Liberty Grand

NEWS ALERTS

STAY CONNECTED

Sign up for out Breaking News Alerts and receive up-to-the-minute coverage of the top stories of the day

 
0 0
Canadian Press

Lawyers begin arguments today over how to divide $7.3 billion raised from the sale of the assets of failed Canadian technology giant Nortel.

The unprecedented case involving lawyers representing former employees, pensioners, creditors and others will play out on both sides of the border through a secure video link that lets judges in both Toronto and Wilmington, Del., simultaneously conduct the proceedings.

What's unclear is exactly how lawyers will present their cases to the judges, as most pretrial arguments and evidence has been sealed over the concerns of Nortel's corporate lawyers that proprietary agreements with former business partners could be exposed.

The trial is considered one of the biggest bankruptcy cases in Canadian history.

Filings with the courts say about 16,000 documents will be presented as exhibits -- whittled down from an initial three million -- and 110 witness depositions have been taken leading up to the trial.



Leave a comment:

· Subscribe to comments
Log in and be the first to comment!

Top stories

Former Police Chief announced on NEWSTALK1010, his intentions to seek the Liberal nomination in Scarboorugh Southwest...

Poll

Do you think the Raptors need to win Game 3 tonight to survive the first round?

Voting is restricted to one vote every 24 hours 24 hour(s) VoteResults