- Yahoo Finance
Nortel Networks Corporation ( Nortel ), formerly Northern Telecom Limited, was a Canadian multinational telecommunications and data networking equipment manufacturer headquartered in Ottawa, Ontario, Canada. It was founded in Montreal, Quebec, in 1895 as the Northern Electric and Manufacturing Company. Until an antitrust settlement in 1949, Northern Electric was owned principally by Bell Canada and the Western Electric Company of the Bell System, producing large volumes of telecommunication ...
Nortel's share price falls more than 79% on the Toronto Stock Exchange. Nortel is the first major technology company to seek bankruptcy protection in this global downturn. Nortel had an interest payment of $107 million due the next day, approximately 4.6% of its cash reserves of approximately $2.3 billion.
Published Online. January 5, 2018. Last Edited. January 4, 2018. Nortel Networks Corporation, or simply Nortel, was a public telecommunications and data networking equipment manufacturer. Founded in 1895 as the Northern Electric and Manufacturing Company, it was one of Canada’s oldest technology companies.
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Nortel’s sprawling Ottawa research campus sat at the center of a promising tech ecosystem, surrounded by dozens of startups packed with its former employees.
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About Us. On January 14, 2009 Nortel Networks Inc. (“NNI”) and certain of its affiliated U.S. debtors filed voluntary petitions for relief under chapter 11 of the Bankruptcy Code before the United States Bankruptcy Court for the District of Delaware. NNI and its affiliated U.S. Debtors continue to operate as debtors in possession pursuant to sections 1107 (a) and 1108 of the Bankruptcy Code.
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Nortel failed to secure the British Telecom contract because it did not offer what the operator’s tender requested, ironically providing a foothold for Huawei itself, Calof argues.
Nortel Networks Inc. and its affiliated U.S. Debtors in chapter 11 proceedings have retained Epiq Bankruptcy Solutions, LLC as claims agent. Information about NNI's and its affiliated U.S. Debtors' claims process can be found at Epiq's website by following the link below.