Bankrupt Nortel Looks To Sell Off Unit For $14M

Law360, New York (February 27, 2009, 12:00 AM EST) -- Bankrupt Canadian technology company Nortel Networks Corp. has asked a federal bankruptcy court to approve bidding procedures to auction off part of its product portfolio, noting that it has already arranged a stalking horse agreement with Radware Ltd. to purchase the business segment for CA$17.7 million (US$14 million).

Ernst & Young Inc., as monitor and foreign representative for Nortel, filed the motion asking the U.S. Bankruptcy Court for the District of Delaware to enforce a bidding procedures order from the Ontario Superior Court of Justice, where...
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