Tag Archives: Creditors

U.S. Creditors to Battle Disability Deal

By Mark Evans | Published: February 19, 2010
If you’re a Nortel employee on long-term disability, you really have to wonder if the world wants to play fair. After accepting a $57-million deal recently that will see their benefits expire in December, the 400 people on long-term disability had to watch Nortel  unveil plans to hand out more than $90-million in bonuses to [...]
Posted in Financials | Also tagged , | 50 Comments

Here’s My Bill…for $51.3 Million

By Mark Evans | Published: December 16, 2009
Something that hasn’t got much attention while Nortel has been in throes of bankruptcy protection is the fact there are many suppliers making a lot of money from the process, which is coming up on its one year anniversary. Take, for example, the latest bills that were submitted for a whopping $51.3-million. Topping the list [...]
Posted in Financials | Also tagged , , | 27 Comments

Nortel: Your Tax Tab is $3-Billion

By Mark Evans | Published: August 28, 2009
Just when you thought the Nortel soap opera couldn’t get more bizarre, it takes another fascinating twist as the Internal Revenue Agency has hit it with a $3-billion claim for back taxes, interest and other penalties. The IRS’ claim comes a month before the Sept. 30 deadline for filing claims. According to the Ottawa Citizen, [...]
Posted in Financials | Also tagged , , , | 31 Comments
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