Lessons from the Nortel case
Monique Jilesen was quoted in the May 18, 2015 issue of Law Times regarding the decision in Nortel Networks Corporation (Re), 2015 ONSC 2987.
One of the lawyers involved in the Nortel Networks Corp. proceedings says the biggest lesson to take away from the difficult cross-border trial is the need for an international insolvency adjudication forum...
...The final outcome is 'in some ways surprising and in some ways not,' says Lenczner Slaght Royce Smith Griffin LLP insolvency lawyer Monique Jilesen.
'Both courts ultimately concluded that given the complexity of the case, the pro-rata allocation was the only allocation that could be reached,' says Jilesen, who suggests both courts reached 'a pragmatic and practical result.'