Help

BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

U.K. regulator asks Nortel group to support pension fund

Reprints

LONDON (Bloomberg)—The Pensions Regulator of the U.K. published a “determination” to issue a Financial Support Direction against 25 companies in the Nortel Networks Corp. group in Canada, the U.S., Europe and Africa.

The regulator’s determinations panel found it is “reasonable to impose the requirements of an FSD” after the employer of the Nortel Networks U.K. Pension Plan was found to be “insufficiently resourced,” it said in a statement on its website.

The FSD requires the “target companies” to provide financial support of as much as £2.1 billion ($3.2 billion) for the shortfall, it said.

&Copy;2010 Bloomberg News