Nortel mediation collapse leaves UK scheme empty-handed

clock

The Trustee of the Nortel Networks UK Pension Plan and the Pension Protection Fund have been left empty-handed after an international mediation failed to settle the dispute over the assets of collapsed telecoms giant Nortel Networks Corporation.

Representatives from the UK pension scheme and the Pension Protection Fund travelled to Canada two weeks ago in a bid to secure more than $2bn (£1.3bn) from an international mediation (PP Online 14...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Law and Regulation

Robin Ellison – Regulators in the firing line

Robin Ellison – Regulators in the firing line

PP’s regular columnist says the political forces are changing when it comes to regulation

Robin Ellison
clock 24 March 2025 • 11 min read
TPR pledges to cut master trust capital requirements and create innovation 'hub'

TPR pledges to cut master trust capital requirements and create innovation 'hub'

Regulator also looking to reduce regulatory burden and ask for asset allocation info

Jonathan Stapleton
clock 17 March 2025 • 2 min read
Legal interpretation argues trustees can take broader view of fiduciary duty

Legal interpretation argues trustees can take broader view of fiduciary duty

Eversheds Sutherlands and NatWest Cushon say it is ‘reasonable’ for trustees to take cost of living factors into account

Jonathan Stapleton
clock 06 March 2025 • 3 min read
Trustpilot