Now on the Auction Block, 4K Patents

The most basic of facts and common knowledge illustrate Nortel's so obvious yet profoundly astounding actions.

The following link is a must read.

There will be at least a few points of interest almost every reader will be unaware of during this to be seen to be believed saga.

http://en.wikipedia.org/wiki/Nortel

What are the chances of taking to courts these so called MONITOR

and ADMINISTRAITORS for dragging this BP case to last longer than it shouldn't???

Creditors also agree.

The Moniitor is also the posterboy for conflict of interest.

(also EDC/OSC/CEO/ Currie's friends at SEC/even Mulrooney has Order of Canada like Manley who's firm defends Dunn… I shake my head… pinch me)

to be seen…

While Abitibi Bowater will get out of bankruptcy protection next month after 18 months of 'real' restructuring, NortHELL is still in a mess(suing and getting sued) with their 'liquidation'(hidden under chap 11).

http://www.ottawacitizen.com/story_print.html?id=3875747&sponsor=

http://africa.ibtimes.com/articles/84808/20101124/nortel-genband-bankruptcy-telecommunications-equipment.htm

This is the way

Ghosts of Thanksgivings past vaguely recall the Thanksgiving lunches at Richardson in balmy weather under blue skies….

Akin to this scenario:

Let's say, I owe someone $500.00 and declared Bankruptcy because I can't

meet the payments anymore. I hired a Lawyer and the Lawyer charges

$1,000 legal fee. Why would I hire a Lawyer to represent me in the

BP court. and dole out the other $500.00?

NORTEL claimed to be Bankrupt but there is Millions of dollars just going to

Lawyers and Lawfirms? WHY? WHY? WHY?

Any idea why the judge & creditors agree to let it keep going? At least the way it is, under Chapt 11? It is curious… It does seem to be a bankruptcy sale any way you look at it rather than administration.

“NORTEL claimed to be Bankrupt but there is Millions of dollars just going to
Lawyers and Lawfirms? WHY?”

To draw up legal papers, determine value, present creditor protection to courts, terms of sale, get bonuses approved, stall, etc… lots of busy legal begals running like a chickens with their heads cut off as the tills cha-chings by the minute in harmony, thousands of hours in professional fees mounting to accompany the mountains of paper. Even the monitor is the poster boy for conflict of interest.They got away with murder like the OJ of antitrust in the US.

Many things get paid first
-Legal Fees as you mentioned piling up by the day in many millions
-Lawsuit insurance premiums (they increased to almost 1/3rd of a billion get paid first too) in the event anyone wants to pick a fight
-Bonuses needless to say, to maximize value this time, the lawyers drew up for big business agreeable yes men creditor pals, for judge to allow
…and I wonder how they will handle the hundreds of millions in compound interest (over 10% on bonds portion) that have piled up /obviously even the prioritized creditors won't be paid in full
(these are the big business creditor pals in Nortel's/RBC Currie's open marklets who lent them billions while neglecting their largest pension shortfall in their application beyond a mere footnote, before that loophole was immediately closed thereafter) See all the insider only CFOs too before Bankruptcy Binning when they swore before a forced inquiry they did not know using the ex-PM's airbus template mentioning sweating CEO's kids education for sympathy sake, only to have these ultimatum artists announce liquidating the very next day… endless I tell ya

After nothing is left the bonus happy clowns have their regular suppliers and huge line of unsecured creditors, which ironically include past two CEOs since Dunn, as the board swaps cash for options yet again, one board member who advocates less regulation become Chief of CEOs

Nothing for employees because the circumvented provincial bankruptcy to file federally loophole just as they liquidate under ch 11 like ch 7 loophole

Shareholders didn't even sue after tanking their settlement to half with further revisions only after settling, as they claimed marl-to-market profits, expressed their largest asset as a tax write off, it was endless

They are slippery to the core as Manley's law firm defends Dunn, and they still sought extraordinary bonuses, analogous to Bre-X, and due to the most common motive of white collar crime, bonuses, bonuses even to loot the corpse

Billions go everywhere with by far from anything left

They even sell depreciating patents last, double cross deals with RIM, as those that bid or bought their units also do not pay them now and they must sue.

…endless profoundly astounding events with enough capital that thwarts Enron, and like Red Rose Tea, only in Canada…. shame

In the USA they would serve quarter century sentences, in Canada they are rewarded… to be seen

wow…. thought this place was gone forever… what happened?

vive l'allaboutnortel ;>)

(at least until nortel is gone)

I thought Mark Evans had pulled the plug on AAN Nortel-style. Not a word from Evans on AAN (his blog) since May… This isn't “winding down”, this is “giving up”.

GDNT venture sold for $50 millions to Ericsson. Ok another firesale on chapter 7 ……oupss officially under chapter 11 but we all know the scam now !

Patents on the auction block. Yeah what a joke, since there's no auction at all since a while but only a liquidation of assets.

The judge must abide by laws of bankruptcy. However, his hands are tied in how must “gleefully” accept this ever so complex process moving forward. Nortel wants to stall under the guise of getting more. Creditors agree, how comes the hammer, delay granted, bonuses all around yet again…

The problem lies in the beyond belief amazement of how the courts can allow them to restructure assets under chapter 11 when really liquidating them like chapter 7. Who are they fooling, yet they fold federally to circumvent provincial laws that require them to pay severance, in favor of bonuses and big business creditors.

Agreeable creditors yes men are happy to get more, to maximizing value for them, approving bonuses. It has been bonuses all along that even resulted in the largest fraud settlement in Canada and I am convinced, their very demise. Right down to looting the corpse or trading options yet again while increasing law suit insurance, all legally.

The judge must abide by this very first company to ever bankrupt under ch 11 while really liquidating under chapter 7! Legal loopholes. Yet, what restructuring? Everyone knows they are liquidating and have stated this themselves right after a government inquiry the were reluctant to attend and forced by subpoena, to claim they didn't know they would fold with bankruptcy pro Binning on board after so many insider only CFOs but prove it beyond circumstance/the obvious, while CEO reiterating Murooney's template of using his kids education like they are destitute or something. Albeit not at the crime scene, this CEO defrauded from day one as he promoted then transferred criminally charged pal, as if Manleys firm defending Dunn isn't bad enough to ad insult to injury following their reluctance to chase past officers. Manley is Chief of CEOS now and favors less regulation. To be seen, only in Canada. He has order of Canada like Murooney. In Canada, Ebbers and Skilling would be knighted the highest accreditations it seems!

Don't matter who was at the crime scene with this level of mass orchestration for what I call the worlds largest fraud on earth, $400 billion even thwarts Enron to down to nothing. Where is Jullian when we need him, wait he was charged with hacking Nortel way back! …heh

The difference here is that Nortel sells their own assets than others selling them for them (with bonuses of course, of course, after cost cutting bonuses even though they folded, after back to profitability bonuses, bonuses for financial innovation, and bonuses to swat flies at evangelicalized no flies on us bored meetings denying the obvious cash bonuses all around hick up than traditional options) etc… always defying the obvious… prove it as they increase lawsuit insurance.

To pay creditors under the guise of getting as much as they can, as they sell depreciating patents last. heh…

Hardly worthy of restructuring even as a licensing company for the declining returns but so long as it is technically there, they can keep chapter 11 alive. Once they are sold too, it doesn't matter, it only leaves diving the proceeds with nothing left and plenty short for many other creditors.

They are loophole artists from printing bonds to trying to avoid inquiry to revising numbers after settling, etc., to folding where Provincial bankruptcy laws state they must pay severances but federal bankruptcy laws circumvent this provision. Guess where they filed in favor of these agreeable preferred creditors who neglected their largest pension shortfall in Canada.

Even if laws are changed, they had employees sign a waiver, after gag orders, and endless loss credibility. Reptiles on steroids I tell ya, god forgive me.

It is under these loopholes, their army of lawyers, and powerful contacts in the open markets, business, and past governments that allowed them to get away with murder. I guess you can tell I am not please with Nortel's actions over the years and what they did to so many North American well educated lives. Want to laugh, they were once a good company! Can't help to get passionate under such grave, grave injustice. And what's changed, look at our joke OSC, their pals that fined them nothing…I can go on forever… it is endless… also amazing is nothing has changed, or can be done about it all…no matter how hard we bellyache to their horsefeathers

It would have been nice if he hacked Nortel in 2009 ,when they filed for BP, and revealed who were the top exec and BOD's who received the big

BONUSES!! Bonuses tied up with Bankruptcy is very unethical and

morally wrong! But nowadays… the word 'moral' is just a word in the

Dictionary.

Some “Auction Block!” World's longest auction according to the Guiness Stout Book of Records. ;>)

Wait! I have it! Let's do another reverse split!

1 share for each 10,000 ought to do it. Then, just briefly, we could revisit the glory daze when shares were over $100. (I'd have nearly two shares! ;>)

Delisted everywhere, NTBK,PK only trade on the unregulated pink sheets until patents are sold and this name, analogous to Bre-X. is finally and thankfully gone

Trades for around 14 cents on the dollar from $1200 Cdn or $800 US adjusted or a fraction of a penny (1/14th of a cent) extreme 10X presplit that they said was to draw institutional investors, like their big business creditors that neglected the largest pension shortfall in Canada when they printed billions in Nortel paper

but ex Nortel CEO Jean Monty saw billions shorting Nortel stock!

“Bert Hill & Vito Pilieci. The Ottawa Citizen. Ottawa, Ont.: Dec 29, 2001.

“BCE Inc. made the biggest splash in the media convergence game by snapping up CTV and The Globe and Mail with hardly a drop of debt. It did it by betting that the price of a huge pile of Nortel Networks stock might fall and made a $4-billion windfall when Nortel stock plunged.

BCE is headed by Jean Monty, the Nortel chief executive officer from 1993 to 1997 who groomed John Roth for the top job.”

Hell No! We wont go! HELL NO WE WONT GO!

We will never let NORTEL go unpunished!

Final bids due for Nortel patents ?

http://www.reuters.com/article…

“analysts say are worth more than $1 billion”

With only 7 key LTE patents over such a short development time.

I'd be surprised to see them fetch over 400 million… Who are the analysts that say these depreciating patents are worth a billion dollars? We saw their recent financial numbers.

tax implications of this worthless POS company stock:

http://www.fairmark.com/capgai…

Professor Howard Storm has message for all Nortel employees and investors.
He says, ask the source!
It'll take just few minutes to get the message.
http://stanpiasta.com/website-…/
Howard Storm has changed his life. How?
He found the answers!
It'd be wasted time, 7 years, for all of us on AAN forum if you ignore message from Professor Howard Storm.
I wish you all looong life beyond 99! /standard for humans on Earth is 120/,much beyond that!