By Tom Hals WILMINGTON Del. (Reuters) – Nortel Networks Inc, the U.S. unit of defunct Canadian telecom company Nortel Networks Corp, has agreed to pay up to about $1 billion in interest that has accrued on the $3.9 billion it owes to its U.S. bondholders, a court filing showed. Thursday’s settlement comes as Nortel’s […]
The fight over defunct Nortel Networks $7.5 billion in cash will be decided in joint U.S.-Canadian court hearings and not in arbitration, a U.S. appeals court ruled on Friday. The U.S. Court of Appeals for the Third Circuit in Philadelphia upheld a bankruptcy court ruling in March that there was never an agreement to use […]
The Wall Street Journal is reporting that telecoms firm Nortel Networks was repeatedly breached by Chinese hackers for almost a decade. The newspaper cited Brian Shields, a former Nortel employee who led an internal investigation into the security breaches, and published claims that the hackers stole seven passwords from the company’s top executives – including […]
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