Nortel Wins Approval Of $158M Sale To Genband

Law360, New York (August 23, 2011, 5:49 PM EDT) -- Bankruptcy judges in Delaware and Canada on Tuesday signed off on Nortel Networks Inc.'s $157.7 million settlement with Genband Inc. that dropped the sale price of the bankrupt telecom's Voice over Internet Protocol and application solutions unit by $25 million.

After a joint hearing with the U.S. Bankruptcy Court for the District of Delaware and the Ontario Superior Court of Justice, U.S. Bankruptcy Judge Kevin Gross and Canadian Justice Geoffrey Morawetz approved the agreement — which lowered the price from the initial offer of $182 million...
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