Nortel's Latin American Unit Joins Others In Ch. 11

Law360, New York (July 15, 2009, 12:00 AM EDT) -- Seven months after Canadian telecommunications equipment maker Nortel Networks Inc. sought bankruptcy protection, its Latin American and Caribbean subsidiary Nortel Networks CALA Inc. has also filed for Chapter 11.

The Florida-based affiliate of Nortel filed its petition Wednesday in U.S. Bankruptcy Court for the District of Delaware after determining that such an action would help preserve the value of assets and contribute to Nortel’s overall restructuring efforts.

“Though originally NN CALA did not file for relief under Chapter 11 of the Bankruptcy Code with the original...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.