FIGHT OVER FORMER TECH GIANT'S ASSETS

May 12, 2014

By Bob Komsic

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At its height, Nortel Networks was worth close to $300-bilion and had over 90-thousand employees around the world.

Ten years later the roof caved in.

The company filed for bankruptcy in 2009.

Now lawyers in Toronto and Delaware have begun fighting over the scraps of a company once considered Canada’s tech darling.

During the next seven weeks, judges in both countries will decide how to divide $7.3-billion in assets among former workers, pensioners, creditors and bondholders.

The case will be heard simultaneously through a high-tech feed.

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