May 3, 2016
We are pleased to report that on May 3, 2016, the Ontario Court of Appeal denied the leave to appeal applications of various US interests to appeal the May 12, 2015 decision of the Ontario Superior Court of Justice (Commercial List) requiring the allocation of assets from the sale of Nortel’s businesses and intellectual property be based on a pro rata approach. To view a copy of the decision please click here.
The appeal of the allocation decision was heard on April 5, 2016 in the United States District Court for Delaware. The court reserved its decision and we will advise as soon as it is available.
For more information regarding the allocation litigation please visit our Allocation Litigation tab by clicking here.