Former telecommunications equipment company Nortel Networks Ltd [NRTLQN.UL] reached an agreement with their various business units on Wednesday to divvy up the $7.3 billion (5.98 billion pounds) raised from liquidating the failed company, paving the way for pensioners and creditors to get paid after a seven-year wait.
Ontario-based Nortel stumbled from ranking among the world’s most valuable companies during the 1990s Internet bubble to bankruptcy in 2009 and liquidation.
The cash at the centre of the dispute was raised from the sale of Nortel’s global businesses, including patents sold in 2011 for $4.5 billion to a group of technology firms led by Apple Inc (AAPL.O), Mic…
Read the full article at: http://uk.reuters.com/article/uk-nortel-ntwrk-bankruptcy-idUKKCN12C2NX