Update: Disposition of Nortel Cash to be Determined in Joint US-CanadianCourt Hearings, Not Arbitration

On behalf of Macdonald Fernandez LLP on Tuesday, December 10, 2013.

Following up on our post on November 4, 2013, the United States Court of Appeals for the Third Circuit ruled on Friday that the diaposition of Nortel Networks' $7.5 billion in cash will be decided in joint US-Canadian court hearings. The court disagreed with an argument by Nortel's European estates that an agreement referring to undefined "dispute resolvers" compelled arbitration.