Nortel’s long, sad collapse from international telecom powerhouse to bankruptcy declared in 2009 could finally begin drawing to a close today – weather permitting.

Judges in Delaware, where a winter storm could lead to cancellation of the hearing, and Canada are starting hearings that could finally decide how Nortel’s $9 billion in assets are divided.

Nortel once employed thousands of people in RTP. 

Nortel’s representatives enter the hearings buoyed by a victory on Tuesday when the U.S. judge ruled that the company did not have to disclose the identity and fees of professionals they have hired to assist in the bankruptcy, according to Law 360. Nortel was fighting new rules that required disclosure. Nortel’s secrecy had led to protests by some parties involved in the suit.

Meanwhile, in the bankruptcy hearings today, Reuters reports that the results not only will affect creditors but retirees.

Nortel has reached settlements with former U.S. workers for some $95 million that os expected to be divided among retirees and disabled workers.

The new hearings follow the failure of multiple parties to reach a settlement during mediation hearings held in January in Canada.

“The issues which remain for decision are imposing,” the U.S. wrote on February 14 in an order scheduling the hearing, Reuters noted.

The full Reuters report is available online.