Nortel Business and Financial Restructuring
May 28, 2010 Update: Nortel Completes Sale of Carrier VoIP and Application Solutions Business to GENBAND
Nortel announced that it has completed the sale of all of the global assets of Nortel’s Carrier VoIP and Application Solutions (CVAS) business to GENBAND, Inc. (GENBAND) for a purchase price of US$282 million, less balance sheet and other adjustments of approximately US$100 million for a net purchase price of approximately US$182 million, which is subject to post-close working capital adjustments
Read the press release »
Read the News Releases
February 8, 2010 - Nortel Enters into Settlement Agreement with Former and Disabled Canadian Employee Representatives »
January 21, 2010 - Nortel Obtains Further Extension of Stay Period Under CCAA and Obtains Canadian and U.S. Court Approvals for Inter-Company Funding Agreement »
December 23, 2009 - Nortel Announces Inter-company Funding Agreement and Settlement of Certain Inter-company Claims »
December 18, 2009 - Nortel Obtains Further Extension of Stay Period Under CCAA »
October 28, 2009 - Nortel Provides Update on Auction Date for the Sale of its GSM/GSM-R Business; Obtains Further Extension of Stay Period Under CCAA; and Obtains Canadian and U.S. Court Approval for Sale of Packet Core Assets »
September 21, 2009 - Nortel Plans Sale of Assets of Next Generation Packet Core Network Components »
August 10, 2009 - Nortel Announces Board of Directors, Management Team and Organizational Changes »
August 10, 2009 - Nortel Reports Financial Results for the Second Quarter 2009 »
July 30, 2009 - Nortel Obtains Further Extension of Stay Period Under CCAA »
July 28, 2009 - Nortel Obtains Canadian and U.S. Court Approvals for Sale Agreement with Ericsson for CDMA Business and LTE Access Assets for Purchase Price of US$1.13 Billion »
July 25, 2009 - Nortel Selects Ericsson as Successful Bidder For CDMA Business and LTE Access Assets »
July 22, 2009 - Nortel Statement on Wireless Asset Auction »
July 20, 2009 - Nortel To Sell Enterprise Solutions Business »
June 19, 2009 - Nortel To Sell CDMA Business and LTE Assets; Company Advancing in Its Discussions With External Parties To Sell Other Businesses »
May 27, 2009 - Nortel to Seek Buyer for Stake in LG-Nortel Joint Venture »
May 11, 2009 - Nortel Reports Financial Results for the First Quarter 2009 »
April 28, 2009 - Nortel Obtains Extension of Stay Period Under CCAA and Extension to EDC Agreement »
March 31, 2009 - Nortel Completes Divestiture of Certain L4-7 Data Assets to Radware »
February 25, 2009 - Nortel Announces Workforce Reductions »
February 19, 2009 - Nortel to Divest Layer 4-7 Data Portfolio »
February 10, 2009 - Nortel Obtains Extension of Stay Period Under CCAA And Extension to EDC Agreement »
January 16, 2009 - Nortel Obtains Approvals From U.S. Court »
January 14, 2009 - Nortel Obtains Court Orders for Creditor Protection »
January 14, 2009 - Nortel Commences Comprehensive Business and Financial Restructuring »
Related Materials |
- January 27, 2009 - Primer on CCAA/Chapter 11 Process
- February 10, 2009 - General Restructuring FAQ
- January 26, 2009 - The Role of the Monitor
- January 26, 2009 - The Role of the Monitor FAQ
- February 19, 2009 - Layer 4-7 Data Portfolio Divesture FAQ
- February 27, 2009 - Workforce Reductions FAQ
- July 15, 2009 - Claims Process for Nortel Creditors
- July 17, 2009 - US Pension FAQ
- July 20, 2009 - Enterprise Solutions Business Asset Sale FAQ
- July 30, 2009 - Canadian Claims Process FAQ
- July 30, 2009 - US Claims Process FAQ
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For More Information on Restructuring Proceedings
Canada:
For further information regarding the CCAA proceedings in Canada, you can contact Ernst & Young Inc. ("E&Y") on its website
www.ey.com/ca/nortel or by phone at 1-866-942-7177 in Canada or the U.S., otherwise 1-416-943-4439. E&Y has been appointed by the Canadian court to be the Monitor in the CCAA proceedings.
United States:
For further information on the claims process in the U.S. and other information concerning the chapter 11 proceedings, you can contact the U.S. claims agent, Epiq Bankruptcy Solutions, LLC, at 1-866-897-6435 or go to the U.S. claims agent website at
http://chapter11.epiqsystems.com/nortel.
For Europe: please visit the EMEA Restructuring page.