Nortel Files for Chapter 11

Medford, Cassimir
January 2009
Red Herring;1/14/2009, p2
Trade Publication
The article reports on the filing of Chapter 11 bankruptcy protection by Canadian telecommunications equipment maker Nortel in both the U.S. and Canada. The Toronto, Ontario-based company will also seek creditor protection for its European subsidiaries. Nortel lost more than 90 percent of its market capitalization in 2001-2002 in the wake of the dark days of the telecom downturn. The company was also laid low by a subsequent financial scandal and has spent the past eight years attempting to rebuild its business and its reputation.


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