Delaware bankruptcy court blocks British pension authorities
March 1, 2010
Delaware: The Delaware Bankruptcy Court has blocked an action by British pension authorities by issuing a ruling giving Nortel Networks the option to ignore a bid from the British Pensions Regulator. The pension authorities sought to start an action against Nortel seeking payment of an unfunded liability against the financially insolvent company’s global assets. Bankruptcy court judge Kevin Gross issued the order saying that the British Pensions Regulator must follow U.S. bankruptcy rules due to their acceptance of U.S. jurisdiction when filing claims. This means that the pension regulators must follow a U.S. court ruling that blocks lawsuits and other claims while Nortel is under bankruptcy protection.[1]
Footnotes
Federal courts:
Third Circuit Court of Appeals • U.S. District Court: District of Delaware • U.S. Bankruptcy Court: District of Delaware
State courts:
Delaware Supreme Court • Superior Court of Delaware • Delaware Court of Chancery • Delaware Family Court • Delaware Court of Common Pleas • Delaware Justice of the Peace Courts • Delaware Alderman's Courts
State resources:
Courts in Delaware • Delaware judicial elections • Judicial selection in Delaware
