Posts

Showing posts from January 11, 2009

Nortel bangkrut?

Nortel Commences Comprehensive Business and Financial Restructuring

JANUARY 14, 2009

*
Company to Utilize CCAA and Chapter 11 Processes
*
Operations Expected to Continue Without Interruption
*
Sufficient Cash on Hand to Fund Ongoing Operations
*
Affiliates in Asia, including LG Nortel, and in the Caribbean and Latin America, and Nortel Government Solutions (NGS) to Continue in Ordinary Course of Business and Are Not Subject to These Proceedings

Nortel Business and Financial Restructuring TORONTO - Nortel* Networks Corporation [NYSE/TSX: NT] announced that it, Nortel Networks Limited ("NNL") and certain of its other Canadian subsidiaries will seek creditor protection under the Companies' Creditors Arrangement Act ("CCAA") in Canada. As well, certain of the Company's U.S. subsidiaries, including Nortel Networks Inc. and Nortel Networks Capital Corporation, have filed voluntary petitions in the United States under Chapter 11 of th…