Nortel Networks Corp. Thursday postponed a hearing on the appointment of a mediator to help broker an end to disputes over the cash raised in the liquidation of its global telecommunications equipment business, Dow Jones Daily Bankruptcy Review reported. Lawyers for U.K. retirees whose pensions are in jeopardy due to Nortel's bankruptcy have petitioned to be part of the mediation, and the company is in talks with them, said James Bromley, attorney for Nortel. The Toronto company and its creditors want to summon Layn R.

Singapore billionaire Peter Lim increased his offer for Premier League soccer club Liverpool FC to £320 million ($508 million), hoping to trump a bid by New England Sports Ventures LLC of the U.S., The Wall Street Journal reported. Meanwhile, lawyers for current co-owners Tom Hicks and George Gillett said in a London court that they had received a bid from a U.S. hedge fund, as they tried to prevent Liverpool's board from completing a sale of the club to NESV. The board last week voted to accept a roughly £300 million bid from U.S.

Adesto Technologies Inc., a developer of low-power memory chips for consumer electronics, says it has acquired intellectual property and patents from German semiconductor company Qimonda AG, Dow Jones Daily Bankruptcy Review reported. Adesto bought Qimonda intellectual property and patents related to Conductive Bridging Random Access Memory, or CBRAM, technology. The agreement includes the purchase of 30 CBRAM patent families and the licensing of additional undisclosed patents. Terms of the deal were not disclosed.

Two years after investment bank Lehman Brothers collapsed and the financial system faltered, world leaders are deadlocked over key proposals for ensuring that such a crisis doesn't happen again, and concern is spreading that the chance for common action has waned, The Washington Post reported. Officials at agencies such as the International Monetary Fund and World Bank say they're worried about the loss of momentum, and private analysts are warning that narrow national interests could undermine further reform.

A bankruptcy judge on Thursday approved the $65 million sale of Nortel Networks Corp.'s multiservice switch business to Swedish telecom equipment vendor L.M. Ericsson Telephone Co., Dow Jones Daily Bankruptcy Review reported. Judge Kevin Gross of the U.S. Bankruptcy Court in Wilmington, Del., signed off on the sale less than a week after Ericsson won an auction for the business. Ericsson beat out PSP Holding LLC, a special-purpose entity funded by Marlin Equity Partners and Canada's Samnite Technologies, which kicked off the Sept. 24 auction with a $39 million bid.

Boeing Co. is looking for new customers for the 717 planes previously flown by the low-cost arm of arm of Grupo Mexicana, which have been grounded for a month after the company filed for bankruptcy protection, Dow Jones Daily Bankruptcy Review reported. MexicanaLink operated 20 Boeing 717s leased from Boeing Capital, according to consultancy Ascend Worldwide. Owners and lessors have repossessed a handful of the 109 planes flown by the group and are working to recover and remarket the remainder, despite faint hopes that a slimmed-down Mexicana could restart later this year.

Aerospace giant Airbus says it’s confused as to why Mexicana continues to order replacement parts even though the Mexican airline hasn’t operated flights for the past month, The Wall Street Journal Bankruptcy Beat blog reported. Airbus is asking the U.S. Bankruptcy Court in Manhattan for vendor protections, such as assurance that it will be paid within seven days of delivering parts, after it received several unexpected orders from Mexicana in the past two weeks.

AbitibiBowater took another step towards ending 18 months of court protection from creditors when its restructuring plan won the required support from a majority of its U.S. creditors, the Canadian Press reported. As was the case last week with votes in Canada, creditors of Bowater Canada Finance Corp. failed to approve the plan. Aurelius Capital Management and Contrarian Capital Management opposed the plan as noteholders of the special purpose subsidiary which has no operating assets. BCFC will be excluded from the Chapter 11 restructuring in the U.S.

Riviera Marine (Int.) Pty Ltd., part of a group of Australian companies that manufacture and sell luxury boats, is seeking bankruptcy protection in the U.S., Trade Only Today reported. Riviera CEO John Anderson said in a statement that the filing is not a new proceeding, but "merely a request that the U.S. courts recognize the [Deed of Company Arrangement] process, which was officially completed by Riviera in June 2010 and that allows us to complete our restructure of both our Australian and U.S. operations." The U.S. filing follows a voluntary administration in Australia.

Freshfields Bruckhaus Deringer has advised Goldman Sachs as the investment bank was today handed down a multimillion-pound fine by the Financial Services Authority (FSA), LegalWeek reported. The regulator has ordered the investment banking giant to pay £17.5m as a penalty for neglecting to inform it that its executive director Fabrice Toure was subject to a fraud investigation by US financial authorities when he became an FSA-approved person upon relocating to the UK in 2008.