Nortel Files Reorganization Plan

Law360, New York (July 14, 2010, 3:59 PM EDT) -- Nortel Networks Inc. has filed a Chapter 11 plan detailing the distribution to its creditors of assets from the company's sale of several business units.

Nortel filed the plan on behalf of the company's 16 affiliated debtors in the U.S. Bankruptcy Court for the District of Delaware on Monday, two days before the debtors' exclusive period to file a plan of reorganization was set to expire.

The communications company has not yet submitted a disclosure statement to accompany the plan, but an earlier court ruling gives...
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