Nortel agrees $37.5m settlement with UK trustee

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Nortel Networks has agreed to pay the trustee of its UK pension scheme $37.5m (£22.9m) to settle claims against its US firms.

The former telecoms company, which filed for bankruptcy in 2009, had faced claims from The Nortel Networks UK Pension Trust and the Pension Protection Fund (PPF) worth $1.335bn (PP Online, 4 Octobe...

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