Technology giant Nortel files for bankruptcy protection
Technology giant Nortel Networks Corp. filed for bankruptcy protection in Canada and the U.S. on Wednesday, the first major technology company to file for protection during the global downturn. North America's biggest maker of telecommunications equipment has been dealing with a sharp drop in orders from phone company clients. It filed for court protection in Delaware on Wednesday, a day before the firm is due to repay a $107 million interest debt on bonds. Creditor protection would... Full Story
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