Nortel files for bankruptcy protection
Nortel, the Canadian telecom equipment vendor, has filed for bankruptcy protection under Chapter 11 of the US Bankruptcy Code ... customers put off their purchases. It still has $2.6 billion in cash, but its long-term debt is around ... of money to settle a class action lawsuit in an accounting scandal. The financial crisis just put [more...]
Date: 2009-01-14 16:07:59
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