Nortel Postpones Patent Auction Amid High Interest

Law360, Wilmington (June 16, 2011, 1:26 PM EDT) -- Bankrupt telecom Nortel Networks Corp. announced Thursday that it would delay the auction for its coveted patent portfolio, worth at least $900 million, by one week to June 27.

The Ontario-based company, whose U.S. operations are in bankruptcy in Delaware, said in a statement that the adjournment resulted from “the significant level of interest” in the 6,000 U.S. and foreign patents and patent applications for wireless, data networking and semiconductor technology.

An attorney for Nortel did not immediately respond to a request for comment.

In May,...
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