Report: Nortel Hires Bankruptcy Counsel

The Wall Street Journal reports this morning that Nortel Networks Corp. (NT) “has sought legal counsel to explore bankruptcy-court protection from creditors in the event that its restructuring plan fails.” Nortel spokesman Ronald Aepian says the company has engaged advisors but says “no bankruptcy filing is imminent” and the company remains focused on implementing a restructuring outlined on Nov. 10.

The Journal story (subscribers can read it here) says the telecommunications equipment company has also explored the possibility of assistance from the Canadian government. Bloomberg also has a summary.

Get Daily Email News from DCK!
Subscribe now and get our special report, "The World's Most Unique Data Centers."

Enter your email to receive messages about offerings by Penton, its brands, affiliates and/or third-party partners, consistent with Penton's Privacy Policy.

About the Author

Rich Miller is the founder and editor at large of Data Center Knowledge, and has been reporting on the data center sector since 2000. He has tracked the growing impact of high-density computing on the power and cooling of data centers, and the resulting push for improved energy efficiency in these facilities.

Add Your Comments

  • (will not be published)