Nortel has filed for Chapter 11 and 15 bankruptcy protection in Delaware. It has also filed for protection in Canada and it's assumed European and other areas will also file for protection.
Nortel was one of the telco giants and it's unlikely it will disappear as so many telcos (both old school and new wave) depend on Nortel for core network equipment such as telephony exchanges etc.
Even if they do go under, they'll emerge under the wing of someone like Alcatel-Lucent or another huge operator.
Nortel have been struggling for a while and the credit crunch is the last straw that broke the camel's back.
Showing posts with label Chapter 11. Show all posts
Showing posts with label Chapter 11. Show all posts
2009/01/15
2007/09/18
SCO files for Chapter 11
After losing its long-running battle for ownership of Unix copyrights last month, SCO has filed for Chapter 11 bankruptcy protection.
Though SCO say their business isn't affected, their long standing argument over ownership of UNIX code and whether various Linux compenents have UNIX code in them, has made them unpopular very unpopular.
Many people wont be sad if they go under, though it will be a shame as they were pioneers when UNIX was originally being developed.
Though SCO say their business isn't affected, their long standing argument over ownership of UNIX code and whether various Linux compenents have UNIX code in them, has made them unpopular very unpopular.
Many people wont be sad if they go under, though it will be a shame as they were pioneers when UNIX was originally being developed.
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