Nortel request to extend the period of bankruptcy protection in order to develop a reorganization plan
News April 28, Nortel Networks is an application to allow the Ontario Court to be extended for three months of bankruptcy protection, as Nortel Networks are working to develop a viable restructuring plan.
Supervision of a court-appointed Nortel Networks restructuring in Canada, Ernst & Young of the body to the Ontario Court articles said, Nortel Networks restructuring design furthermore need to boost the allowance of time in alignment to evolve a scheme acquiesced to the reorganization.
Nortel Networks in January of this year in the United States and Canada to apply for bankruptcy protection. In February this year, Nortel Networks in Canada's bankruptcy protection was a three-month extension. The deadline for Nortel Networks in May 1 to submit a reorganization plan. However, Ernst & Young said in the document, Nortel Networks need until July 30 so that business can be ready.
It is extensively speculated Nortel Networks will trade its three principle enterprise of one or two to help it more than 10 billion dollars to repay debt. However, so far there have been no transactions.
Nortel Networks in Research Triangle Park (Research Triangle Park) has 2000 personnel, chiefly the goods produced of apparatus wanted for large-scale enterprises. The performance of this subdivision has been good in the heart of Nortel Networks enterprise unit. Declared bankruptcy security after the sale of Nortel Networks may be in this subdivision may in addition be the quintessence subdivision as its maintained. - 18780
Supervision of a court-appointed Nortel Networks restructuring in Canada, Ernst & Young of the body to the Ontario Court articles said, Nortel Networks restructuring design furthermore need to boost the allowance of time in alignment to evolve a scheme acquiesced to the reorganization.
Nortel Networks in January of this year in the United States and Canada to apply for bankruptcy protection. In February this year, Nortel Networks in Canada's bankruptcy protection was a three-month extension. The deadline for Nortel Networks in May 1 to submit a reorganization plan. However, Ernst & Young said in the document, Nortel Networks need until July 30 so that business can be ready.
It is extensively speculated Nortel Networks will trade its three principle enterprise of one or two to help it more than 10 billion dollars to repay debt. However, so far there have been no transactions.
Nortel Networks in Research Triangle Park (Research Triangle Park) has 2000 personnel, chiefly the goods produced of apparatus wanted for large-scale enterprises. The performance of this subdivision has been good in the heart of Nortel Networks enterprise unit. Declared bankruptcy security after the sale of Nortel Networks may be in this subdivision may in addition be the quintessence subdivision as its maintained. - 18780
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