Nortel seeks another bankruptcy extension

Sean Buckley
02 Sep 2009
00:00

Nortel is coming to the table for yet another bankruptcy protection handout.

tax bill

A company statement said that the extension it filed would provide it the necessary time to “file a plan of reorganization and solicit support for such a plan.”

Seeking Alpha

article

Ericsson

made

Such a theory that Nortel needs the extra time to sell more of its units is not completely off base. Reports have emerged that there are a number of potential interested bidders for Nortel's profitable Metro Ethernet Networks (MEN) and its carrier VoIP units.

Financial Post

reported

potential bidder

believes

Then there's the MEN business, which has attracted other potential suitors such as Ciena, Ericsson and NSN.

For more:
- here's the Seeking Alphaarticle

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