NL Short Takes
News | January 13, 2003
360networks suing Nortel for US$101M after restructuring
The American subsidiary of 360networks Inc. and a group of unsecured creditors of the fibre company are suing Nortel Networks Corp. to recover US$101.1 million. The funds were transferred to the equipment maker after 360networks filed in June 2001 for creditor protection, a move which resulted in the fibre firm re-establishing itself as 360networks Corp. If recovery of the money is successful, US$81.5 million will go to the creditors.
This content is available to wirereport.ca subscribers
Already a subscriber? Sign in here
Unlock all the Canadian telecom, broadcasting and digital media news you need.
Take a free trial or subscribe to The Wire Report now.
FREE TRIAL
Two weeks of free access to thewirereport.ca and our exclusive newsletters.
SUBSCRIBE
Unlimited access to thewirereport.ca and our exlusive newsletters.