Nortel debtors launch CVAs in UK ahead of possible autumn distribution
Nortel Networks, a global communications company, entered bankruptcy proceedings in 2008. (Credit: iStock.com/Pixtum)
Fourteen of Nortel’s European, Middle Eastern and African debtors have launched company voluntary arrangement (CVA) processes in the UK, preparing for the receipt of their share of US$7.3 billion in company sales proceeds that has been kept in a lockbox for more than eight years.
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