A settlement over how to divide up a portion of the $7.3 billion US made from the sale of certain Nortel Networks assets may be nearing completion.
Two sources familiar with the negotiations said that lawyers for the former technology giant’s operations in Europe, the Middle East and Africa are likely to reach an agreement on their share of the money sometime this week.
If a settlement materializes, it will clear one of the biggest hurdles yet in the complex attempt to dole out Nortel’s money after it folded five years ago.
However, a European settlement would only resolve a small part of the bigger trial to divide the assets between other parties, including bondholders and Canadian pensioners.
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