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Articles tagged with: Bankruptcy
Nortel's US Pension Fund Taken Over by Federal Agency
..determined by the legal limits in force on the date of the plan sponsor's bankruptcy. Therefore participants in this pension plan are subject to the limits in effect on January 14, 2009, which set a maximum guaranteed amount of $54,000 for a 65 more
Related Tags: nortel-networks, pension, USA
Nortel to Seek Buyer for Stake in LG-Nortel Joint Venture
..are) in LG-Nortel, the company's Korean joint venture with LG Electronics. Nortel, which is in bankruptcy protection said that LG-Nortel is a profitable, standalone business with a strong balance sheet, and has not filed for creditor protection more
Related Tags: nortel, lg, lg-electronics, nortel-networks, goldman-sachs, Korea South
Nortel Gets More Time to Restructure
Nortel Networks has been granted a three-month extension to the bankruptcy protection order granted by the Ontario Superior Court of Justice. The firm now has until July 30th to put together its restructuring plan for approval by the court. more
Related Tags: nortel, ovi, Canada
Nortel Pensioners Seek Resumption of Benefits Payments
.. including severance pay and pension supplements. Nortel ceased the payments when it went into bankruptcy protection and is claiming that they are unsecured claims and will have to be paid out of any proceeds left when the firm emerges from ban more
Related Tags: ptc, sim, nortel, lawyer, Canada
Spansion and Samsung Settle Patent Litigation Lawsuit:
..ter 11 filing, the agreement is subject to approval by the bankruptcy court. The agreement is contingent upon the dismissal of the claims and the satisfaction of certain conditions including bankruptcy court approval. In November 2008, Spansio more
Related Tags: ptc, semiconductor, flash-memory, samsung, ict, ovi, iden, patents, spansion, international-trade-commission, memory, samsung-electronics, mp3, flash, USA
Telenor Served with $1.7 billion Demand by Norwegian Bailiff
..d in VimpelCom in 1998. At that time VimpelCom was close to bankruptcy with only 130,000 subscribers. Today VimpelCom has close to 60 million subscribers and we pride ourselves of having contributed extensively to that success. The only loss in more
Related Tags: ptc, eu, ict, tim, telenor, vimpelcom, farimex, Norway
Nortel Exec - Will Consdier Bids for the Company Divisions
..deration to any offers to buy divisions in the company as it restructures under court approved bankruptcy protection. "We will go through the process of having those discussions," Bruce Gustafson, vice president of strategic marketing for the ca more
Related Tags: ptc, nokia, wall-street-journal, iden, nortel, nokia-siemens-networks, nortel-networks, siemens, nokia-siemens, Canada
Nortel Gets Permission to Pay $45 Million in Staff Bonuses
..als, including court approval for its restructuring. The company is currently in bankruptcy protection after losing nearly US$7 billion since 2005, although it has cash reserves of US$2.4 billion. The US Bankruptcy Judge Kevin Gross approved t more
Related Tags: ptc, eu, iden, nortel, mike-zafirovski, hawaiian-telcom, lawyer, Canada
RIM Looking to Hire Thousands of New Staff in 2009
..irm, Nortel Networks is cutting some 3,200 additional jobs as it tries to exit bankruptcy protection. 'This is the easiest time to say 'I have to be very careful and wind down my investments,"' he said in a recent interview with The Canadia more
Related Tags: ptc, nokia, iphone, apple, wind, nortel, gartner, rim, research-in-motion, nortel-networks, Canada
Nortel Considering Break-Up of the Company
.. currently working through a restructuring may seek to break itself up rather than emerge from bankruptcy protection as a whole company. Citing people close to the issue, the Wall Street Journal said that the firm is in talks to sell it compone more
Related Tags: ptc, nokia, wall-street-journal, nortel, nokia-siemens-networks, siemens, nokia-siemens, Canada