Nortel settles fight to divvy up $7.3 bln from liquidation

Wed Oct 12, 2016 5:37pm EDT
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CHICAGO Oct 12 (Reuters) - Former telecommunications equipment giant Nortel Networks reached an agreement on Wednesday to divvy up the $7.3 billion raised from liquidating the failed company, clearing the way for pensioners and bondholders to get paid after a seven-year wait.

The deal will become effective in the first quarter of 2017, Nortel said in a court filing. (Reporting by Tracy Rucinski; Editing by Bill Rigby)