Verizon Fights $182M Sale Of Nortel Unit To Genband

Law360, New York (March 3, 2010, 3:02 PM EST) -- Verizon Communications Inc. is lashing out at bankrupt Nortel Networks Corp.'s bid to sell its application solutions unit to Genband Inc. for $182 million without holding an auction, arguing that the parties have failed to adequately unbundle contracts related to Verizon's assets covered by the sale.

In an objection Tuesday in the U.S. Bankruptcy Court for the District of Delaware, Verizon — which is the largest customer of Nortel's Carrier Voice Over Internet Protocol Application Solutions business — said that because the bundled contracts are not...
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