After mediation fails, court fight over Nortel begins

WILMINGTON, Del (Reuters) – Bankrupt telecoms equipment large Nortel Networks once boasted of a worldwide operation, however now its former world-vast devices are squaring off over its final remaining asset: $9 billion in cash. Two judges, one in Wilmington, Delaware, and the opposite in Toronto, will jointly hear arguments on Thursday in an effort to not directly decide how, and when, to carve up that money. The result will decide how so much might be on hand for tens of hundreds of retirees, governments and hedge funds traders. "The problems which stay for decision are imposing," U.S. …