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Nortel settles fight to divvy up $7.3 bln from liquidation

Reuters - UK Focus

CHICAGO, Oct (HKSE: 3366-OL.HK - news) 12 (Reuters) - Former telecommunications equipment giant Nortel Networks (Stuttgart: 2789618.SG - news) reached an agreement on Wednesday to divvy up the $7.3 billion raised from liquidating the failed company, clearing the way for pensioners and bondholders to get paid after a seven-year wait.

The deal will become effective in the first quarter of 2017, Nortel said in a court filing. (Reporting by Tracy Rucinski; Editing by Bill Rigby)