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Articles tagged with: Bankruptcy and Nortel
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: 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
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
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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, 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, 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, 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, nokia-siemens-networks, siemens, nokia-siemens, Canada
Telecom Equipment Market Expected to Suffer a Sharp Downturn in 2009
..the firm to file for bankruptcy. Handset market also feeling the squeeze The economic slowdown is also likely to increase its impact on mobile phone sales. IDATE remains ‘quite optimistic' over the outlook for 2009, and states that the mobile p more
Related Tags: ptc, 3g, nokia, motorola, eu, cisco, ict, itu, huawei, zte, ericsson, seven, idate, siemens, alcatel-lucent, nokia-siemens, chipset, alcatel
Nortel Networks Reports $2.14 Billion Loss for Q4
.. with a net loss of $844 million a year earlier as the firm struggles to restructure itself in bankruptcy protection. The losses includes a reduction of the deferred tax asset of US$951 million, a write-down of $1.2 billion, special charges of more
Related Tags: ptc, nortel-networks, tax, Canada
Nortel Cuts A Further 3,200 Jobs - Cancels 2008 Bonuses
.. successful emergence from creditor protection." The company is currently in bankruptcy protection and seeking court approved restructuring. "We remain deeply committed to our customers and are staffed to meet their needs as we take the more
Related Tags: ptc, ict, personal