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back to article Nortel confirms fire sale

Nortel is well-advanced in the process of splitting itself into self-supporting business units which could be sold off separately, if the firm cannot find a buyer for its whole business. The 100-year old Canadian communications company went into Chapter 11 bankruptcy protection in January. Since then it has split its business …

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Happy

Guess the buyer games!

Oracle doesn't have a networking division in the soon-to-be-eaten Sun bizz, maybe they'd like to spend some of Larry's yatch fund on the Enterprise chunk? Might make a good match if he really does want to do the whole stack, and could be a bargain compared to the cost of the Sun purchase.

HP? Not sure, do they have the motive with ProCurve doing pretty well? Nortel do make some blade modules for them, but is that enough to make them buy up what looks like a serious mess. Mind you, Hurd The Butcher does like swinging his axe!

IBM? Well, they do have the cash spare seeing as they didn't splurge on Sun, and it could be used as a way to kick back at CISCO. But I can't see them wanting the whole Nortel pie, again maybe just the Enterprise bit.

I'm not sure if LG have the cash to buy out their shared VOIP phone venture, but there may be some desperate venture capitalists willing to supply funds. I can't really see any of the other phone hardware manufacturers or carriers being too fussed.

Avaya seem to be looking to buy their way out of the recession. They did come out of Lucent so there may be some of the old Goliath's networking genes there that would make them buy the whole kit and caboodle.

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Go

Shameful

Those taking Nortel to court - highlight not just the £23M in payment to senior Nortel execs, but hosw much the administrators are charging. You find rates may exceed £200 per hour !

The court appoints an administrator - these guys run the affairs until sale/liquidation. No one monitors the administrators - the court does not have time. It's like MP expenses - no one challenges, high fees are the norm, no one wants value for money, no one challenges.

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Alien

Chapter 11 is part of the US legal code.

Seems like the last article here in elReg about Nortel was confused about where Nortel was incorporated.

Despite the acknowledgment that Nortel is a Canadian corporation, now elReg is confused about whose bankruptcy laws apply.

I know we like to joke about Canada being the 51st state and all, but seeing as how I have to show my passport to get in (and back) I'm inclined to think it's really not. Oh, and the money is different too.

Does anyone check this stuff before it gets posted?

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Ch 11

Sorry if i confused you Anon,

Nortel is seeking protection from bankrupcy in many different countries using many different laws.

These are known generally as Chapter 11, although this is a reference to US law.

cheers

john

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