Comments on: Nortel Wants Another Bankruptcy Extension

By: KennethSPoodale

KennethSPoodale — Mon, 12 Jul 2010 03:47:50 +0000

Chapter 7, also called a straight bankruptcy, is a liquidation proceeding. The debtor gives all non-exempt chapter 7 bankruptcy property to a bankruptcy trustee who then converts it to cash for distribution to creditors. The debtor is freed from all dischargeable debts, usually within 4 months. Chapter 7 is filed in cases where the debtor has few assets to lose, so this option gives a relatively quick release from debts. A debtor can file Chapter 7 again if more than 8 years have passed since discharge of a previous Chapter 7 bankruptcy.

By: StephanieBShuttson

StephanieBShuttson — Mon, 12 Jul 2010 01:25:18 +0000

Reading bank ratings can be a tremendous kennett national bank way of picking the right bank to do business with. All too many people just settle for whatever bank is in their area and don’t investigate at all if it’s really the best one for their needs.

By: GoProto

GoProto — Tue, 01 Sep 2009 09:45:39 +0000

What an a$$

By: zeroman

zeroman — Tue, 01 Sep 2009 05:46:58 +0000

This means one an only one thing.

Nobody is buying any of the businesses in the near term. MEN, CVAS and GSM are going to continue without much bidding.

So much for calling some of them crown jewels. Or executives mouthing hot air about all the interested companies.

By the time these sell, value is going to be in the sewer. One notch down from the toilet it is in after Ch 11.

These guys cannot even manage a Ch 11. Forget about running the business profitably.

By: GoProto

GoProto — Tue, 01 Sep 2009 05:45:39 +0000

What an a$$

By: zeroman

zeroman — Tue, 01 Sep 2009 01:46:58 +0000

By: less

less — Tue, 01 Sep 2009 00:41:13 +0000

Yeah thats what was keeping Nortel down…

By: wasthere

wasthere — Mon, 31 Aug 2009 23:43:43 +0000

Extension ! Nortel has been living on extensions for the last 10 years :

Yes we will re-structure, yes we will eventually publish our financial results on time, yes we have a plan coming, yes we will cut 1 billion of cost in our operations, yes we will be profitable next year, yes we will sell business and become a leaner and more focus company. All these years of postponing and delaying everything they said they will do to finally had to surrender and stab a lot of people on their backs.

Is there a judge with enough balls to tell them that the game is over !
''You put everything on the selling block now and you just leave !''

By: got_out_years_ago_ty

got_out_years_ago_ty — Mon, 31 Aug 2009 23:02:24 +0000

What about this post from Barta? I want to talk to this guy..

http://community.nortel.com/go/blogs/buzzboard/...

By: vvvv

vvvv — Mon, 31 Aug 2009 22:42:43 +0000

A substantial part of the U.S. 911 system runs on DMS-100 too. And the acquiror will probably have to swear allegiance to CALEA here also.

As to whether the creditor value is increased or reduced by dragging out the divestiture process, there are different opinions. Enterprise revenues are melting rapidly, so the Enterprise divestiture had better close on schedule.