TPR legal action over Nortel deficit blocked by overseas courts

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UK - Courts in Canada and the US have blocked The Pensions Regulator's attempts to seek £2.1bn (US$3.13bn) from Nortel Networks on behalf of the struggling UK pension scheme.

The regulator appeared in court last week to defend its efforts to secure financial support from the Canadian parent company to help fund Nortel's UK pension scheme deficit of £2.1bn. Last week,...

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