Verizon Loses Bid To Stop $915M Nortel Sale

Law360, New York (September 16, 2009, 5:41 PM EDT) -- A bankruptcy court has rejected Verizon Communications Inc.'s objection to the $915 million sale of Nortel Networks Inc.'s business phone service unit to Avaya Inc.

In its objection filed Monday in the U.S. Bankruptcy Court for the District of Delaware, Verizon claimed that unless the repairs and services contracts it currently holds with Nortel were taken up by Avaya, the communications systems of thousands of its customers, which include government agencies and courts, might be disrupted.

Verizon had asked the bankruptcy court to refrain from approving...
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