NORTEL controlled by Extra-Terrestrials ????
two weeks after the Canadian judge overseeing proceedings north of the border commented on all the sealed papers and wondered aloud, “What is possibly confidential here?”
Lawyers for Nortel U.S. and its leading bondholder creditors didn’t respond to Bankruptcy Beat queries last week about when the public record of the trial would actually be, well, public. (We’ve previously reported on plans for a live broadcast of the trial, which only “authorized users”—lawyers and other advisers—may view.)
The trial to determine the allocation of Nortel's assets began on May 12th and will continue to June 26th.
The positions of the parties are provided in the pre-trial briefs provided below:
CCC Pre-Trial Brief
Monitor and Canadian Debtor Pre-Trial Brief
UKPC Pre-Trial Brief
EMEA Debtors Pre-Trial Brief
US Debtors Pre-Trial Brief
Ad Hoc Group of Bondholders Pre-Trial Brief
Daily summaries are provided below:
Day 4 – May 15, 2014
Day 5 – May 20, 2014
Day 6 – May 21, 2014
Day 7 – May 22, 2014
Following the conclusion of the evidentiary portion of the trial, post-hearing written submissions will be made in writing and two days of closing arguments are expected to be heard by the courts in the fall. We will continue to update our website as information becomes available.
Background
Justice Geoffrey B. Morawetz of the Ontario Superior Court of Justice and Judge Kevin Gross of the U.S. Bankruptcy Court in Wilmington, Delaware, ordered a mediation among all parties to the bankruptcy proceedings of Nortel Networks Corporation while their decisions on motions seeking the allocation of Nortel's assets were put on hold.
