Oct 12 (Reuters) - Nortel Networks Ltd NRTLQN.UL
* Press release - nortel canada announces execution of global settlement and support agreement
* Nortel networks corp- co, nortel networks ltd entered settlement and plans support agreement with nortel networks, nortel networks uk ltd among others
* Nortel networks-global settlement and support agreement provides for resolution of allocation dispute regarding about u.s.$7.3 billion of sale proceeds
* Nortel networks corp-pursuant to global settlement and support agreement, nortel canada to get 57.1065% of sale proceeds in escrow or about $4.143 billion
* Nortel networks corp- global settlement and support agreement also provides for release to nortel canada of about u.s.$237 million of other sale proceeds
* Nortel networks-nortel canada expects to use vast majority of funds got from global settlement and support agreement to make distributions to creditors
* Nortel networks-nortel canada expects global settlement and support agreement to become fully effective and to get funds pursuant thereto in q1 of 2017 Source text for Eikon: ID:nCCN4MsJMP Further company coverage: NRTLQN.UL