Latest News 2010 July Telecommunications Equipment Maker Files Bankruptcy

Telecommunications Equipment Maker Files Bankruptcy

Nortel Networks Inc., which was once a part of the biggest maker of telecommunications equipment in the U.S., has filed a bankruptcy plan without disclosing how much creditors will be repaid. The plan does not include details about how the company will divide the proceeds from selling its assets. The company has reportedly raised about $2.8 billion in selling some of its assets so far.

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Categories: Filing for Bankruptcy