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WOW! Just got a copy of an email making the rounds that included the following:
Q&A
Is Nortel headed for a break-up?
After completing a careful analysis, it has become clear that the optimal path for each of our businesses is to find buyers who can carry Nortel’s rich innovation platforms into the future.
The company is advancing in its discussions with external parties to sell its other businesses – this will provide an opportunity to maximize value while preserving innovation and jobs to the greatest extent possible
Is Nortel emerging from bankruptcy?
Nortel is focused on finding the right buyers for its businesses. If we are successful in selling our businesses Nortel will not continue as a going concern and will not emerge.
Does this mean Nortel is being liquidated?
No. We are focused for finding the right buyers for all of our businesses. After completing a careful analysis of each of our businesses, it has become clear that the best outcome for each of our businesses is to find buyers who can carry Nortel’s rich innovation platforms into the future. The company will assess other restructuring alternatives for these businesses in the event it is unable to maximize value through a sale.
What will happen to the Nortel name?
If we are successful in selling all our businesses, the Nortel name may continue with one of those businesses, depending on the terms of the deal.
What happened – what got you to this point?
After completing a careful analysis, it has become clear that the optimal path for each of our businesses is to find buyers who can carry Nortel’s rich innovation platforms into the future. We believe this is the best path for our businesses and our customers
What is a “stalking horse”?
In the U.S., this sale requires a court-approved bidding process, known as a “stalking horse” or 363 Sale under Chapter 11 of the US Bankruptcy Code. In addition, consummation of the stalking horse transaction is subject to higher or otherwise better offers, approval of the United States Bankruptcy Court for the District of Delaware and the Ontario Superior Court of Justice, and the satisfaction of other customary and other conditions.
We expect the U.S. stalking horse process to continue for a period of 39 days once bidding procedures are approved. Thereafter additional time may be required to satisfy all other conditions and obtain other necessary court or government approvals. We will update you on the status of the process as further information is available.
Obviously, I can't verify that this is 100% authentic.
Q&A
Is Nortel headed for a break-up?
After completing a careful analysis, it has become clear that the optimal path for each of our businesses is to find buyers who can carry Nortel’s rich innovation platforms into the future.
The company is advancing in its discussions with external parties to sell its other businesses – this will provide an opportunity to maximize value while preserving innovation and jobs to the greatest extent possible
Is Nortel emerging from bankruptcy?
Nortel is focused on finding the right buyers for its businesses. If we are successful in selling our businesses Nortel will not continue as a going concern and will not emerge.
Does this mean Nortel is being liquidated?
No. We are focused for finding the right buyers for all of our businesses. After completing a careful analysis of each of our businesses, it has become clear that the best outcome for each of our businesses is to find buyers who can carry Nortel’s rich innovation platforms into the future. The company will assess other restructuring alternatives for these businesses in the event it is unable to maximize value through a sale.
What will happen to the Nortel name?
If we are successful in selling all our businesses, the Nortel name may continue with one of those businesses, depending on the terms of the deal.
What happened – what got you to this point?
After completing a careful analysis, it has become clear that the optimal path for each of our businesses is to find buyers who can carry Nortel’s rich innovation platforms into the future. We believe this is the best path for our businesses and our customers
What is a “stalking horse”?
In the U.S., this sale requires a court-approved bidding process, known as a “stalking horse” or 363 Sale under Chapter 11 of the US Bankruptcy Code. In addition, consummation of the stalking horse transaction is subject to higher or otherwise better offers, approval of the United States Bankruptcy Court for the District of Delaware and the Ontario Superior Court of Justice, and the satisfaction of other customary and other conditions.
We expect the U.S. stalking horse process to continue for a period of 39 days once bidding procedures are approved. Thereafter additional time may be required to satisfy all other conditions and obtain other necessary court or government approvals. We will update you on the status of the process as further information is available.
Obviously, I can't verify that this is 100% authentic.
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