Posts tagged “Nortel”
Nortel, which went bankrupt in 2009, has reached an agreement under which the $7.3 billion in assets would be divided among its various business units. The deal could mean more money for retired workers and creditors. However, the long battle is not over since the agreement must receive court approval.
Judges in the U.S. and Canada on Tuesday ruled on how to divide the more than $7 billion in assets from bankrupt Nortel Networks. After years of legal wrangling it appears the economic disaster that rocked the Triangle and cost thousands of jobs could finally be drawing to a close. Or is it?
Cisco execs sell $19M in shares; Nortel trial nears end; GSK launches 2 startups; Salix $100M settlement; AT&T Amazon bundle
In today's wrapup of tech and life science news: Several Cisco executives sell $19 million in shares; Nortel's huge bankruptcy trial nears end; GSK launches two startups; Salix reaches a $100M settlement; and AT&T's new entertainment bundle includes Amazon Prime.
Twitter tests new hastags; Nortel pensioners fight deal; ChannelAdvisor-Yahoo deal; T-Mobile's new bidder
In today's wrapup of technology news: The Wall Street Journal says Twitter is testing new hashtags; Nortel pensioners don't like bankruptcy deal; ChannelAdvisor makes a deal with Yahoo; French firm bids for T-Mobile.
China firms turn on IBM, EMC; Cree-Walgreens deal; Google removing some results; Nortel bankruptcy update
In today's Bulldog wrapup: Chinese firms are turning away from IBM, Oracle and EMC; Cree makes a deal with Walgreens; Google begins removing some search results in Europe; and Nortel's bankruptcy case drags on.
SAS to tout 'Big Ideas;' Sony TV service; Quintiles' new deal; Nortel settlement; Yahoo touts ads; Twitter co-founder's startup
Our Bulldog blog wrapup of the latest technology news: SAS has big plans for the National Retail federation show; Sony plans Internet-based TV service; Quintiles strikes info deal with Georgia firm; judge OKs Nortel deal; Yahoo unveils new services; Twitter co-founder launches new photo app.
BlackBerry returns to keyboards; $50M in biz for PowerSecure; Twitter stock tumbles; Apple's latest buy; Nortel patents sold; LenovoEMC's new server
Our Bulldog blog wrapup of the latest technology news: BlackBerry is returning to its keyboard roots; PowerSecure books $50M in new business; Morgan Stanley says sell Twitter shares; Apple buys photo app startup; a group of Nortel patents is sold; LenovoEMC unveil a new server targeting smaller businesses.
The settlement is one of several Nortel has struck this year as it moves to liquidate some $7.5 billion in assets it secured through liquidation of assets following the declaration of bankruptcy in 2009.
How $7.5 billion assets will be allocated among the various Nortel companies and their creditors will be decided by courts, not in arbitration, according to a Dec. 6 ruling from the U.S. Court of Appeals in Philadelphia.
Fidelity Investments says that it won't discuss security at the former Nortel campus in RTP where it runs a large campus. But a spokesperson tells WRALTechWire the company is "very comfortable" with its facilities despite reports that Nortel's former headquarters in Canada was riddled with electronic bugs. Meanwhile, the Nortel "bugging" story takes a major turn.
Workers preparing the former headquarters complex of bankrupt Nortel Networks in Ottawa, Canada, have discovered that the complex had been bugged by Chinese spy gear. As a result the Canadian Department of Defense may not move in. The report amplifies previous stories that Nortel had been hacked for years by Chinese operatives as part of an industrial espionage campaign.
BlackBerry's decision to consider takeover offers is fueling speculation that investors could band together to keep the company in Canadian hands, avoiding the national embarrassment that followed Nortel Networks Corp.'s failure four years ago.
Some 200 disabled Nortel workers have scored a legal victory over their former employer, which went bankrupt and is liquidating its holdings. The workers earlier had won a nearly $27 million settlement for other benefits.
So why did Nortel go bankrupt, causing 8,000 job losses in RTP alone? James Bagnall, the associate business editor of The Ottawa Citizen who followed Nortel closely for years, explains how a "rush to judgment" in 2001 sealed the fate of the former telecom giant.