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Nortel Networks Partial Reconsideration Approved, Denied In Part

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According to the  U.S. Bankruptcy Court docket, the Court approved and denied in part the motion filed by Law Debenture Trust Company of New York, as indenture trustee for NNCC notes, for partial reconsideration of the Court’s order and allocation trial opinion.

According to the memorandum order, “The Court recognizes that the Movants are unhappy with the Allocation Opinion and Allocation Order. The result is not what they had hoped their hard work would develop. They have asked the Court for re-argument or clarification of the Allocation Opinion and Allocation Order and the Court has granted their requests in part and denied them in part. The Court’s ruling on allocation was the result of careful consideration and the ruling on the Motions is the same. The Court urges the Movants and the Opposition to discuss how to refine the issues the Movants have raised. Failing those discussions, the Court recognizes those appeals and therefore the expenditure of time and money may result.”

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