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Tag Archives: bankruptcy
Nortel Shares the Wealth…With a Few
Imagine if you one of the thousands of people who were dismissed by Nortel over the pass year without a single penny of severance. Imagine if you were one of the 400 Nortel employees on long-term disability were had take a buy-out recently rather than risk losing all of their benefits. Then, imagine how pissed [...]
Nortel Provides Bankruptcy Update
It’s been a long time since Nortel talked about the bankruptcy protection process, which started more than a year ago before moving into the “let’s sell everything but the kitchen sink” mode last June. Today, Nortel issued a press release that talks about well it has done in managing the bankruptcy process and the asset [...]
Nortel Provides Bankruptcy Update
It’s been a long time since Nortel talked about the bankruptcy protection process, which started more than a year ago before moving into the “let’s sell everything but the kitchen sink” mode last June. Today, Nortel issued a press release that talks about well it has done in managing the bankruptcy process and the asset [...]
Hurray, More Time to Restructure!
For anyone wondering how much longer Nortel could stay in bankruptcy protection, you’ll be happy to hear that it’s going to last at least another three months. Nortel and its other Canadian subsidiaries have received an extension until April 23 from the Ontario Superior Court of Justice for creditor protection under the Companies’ Creditors Arrangement [...]
Is Nortel Dead or Semi-Dead?
A month ago, I wondered whether a New Nortel could emerge from the ashes before it unveiled plans to sell the carrier business. Today, Network World’s Jim Duffy asks the same question based on the idea that Nortel could come back to life after paying off its creditors and debts. One of the more interesting [...]
And the Bonuses Keep on Coming