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| Now it's Canadian Nortel Group Filing a Reservation of Rights |
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Friday, November 19 2010 @ 06:40 PM EST
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The Canadian Nortel Group has now filed a Reservation of Rights regarding SCO's Notice of Cure Amounts in connection with SCO trying to assume and assign contracts and leases as part of their planned sale of most of the assets in the bankruptcy. Interestingly, their objection isn't to the cure amount:
3. The Canadian Nortel Group has no objection to the proposed cure amount
set forth in the Notice or to any contemplated assumption and assignment of the Agreements in
these chapter 11 cases. However, the Canadian Nortel Group reserves all rights under applicable
law and in the Canadian Proceedings, including the right to repudiate the Agreements, or any
agreements ancillary thereto.
I gather they care about who buys the assets, but it could be something else I haven't thought of. When you are the most hated tech company in the land, so to speak, folks get cautious.
Here's the filing:
11/19/2010 - 1203 - Reservation of Rights of the Canadian Nortel Group Regarding Debtors' Notice of Cure Amounts in Connection with the Assumption and Assignment of Executory Contracts and Unexpired Leases Filed by Nortel Networks Global Corporation, Nortel Networks Technology Corporation, Nortel Networks Limited, Nortel Networks Corporation, et al.,, Nortel Networks International Corporation. 1141 , 1161 , 1184 , 1194 (Parikh, Mona) Modified on 11/19/2010 (MEB). (Entered: 11/19/2010)
11/19/2010 - 1204 - Affidavit/Declaration of Service of Jennifer L. Parisi (related document(s) 1203 ) Filed by Nortel Networks Global Corporation, Nortel Networks International Corporation, Nortel Networks Limited, Nortel Networks Technology Corporation. (Parikh, Mona) (Entered: 11/19/2010)
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| Authored by: perpetualLurker on Friday, November 19 2010 @ 06:44 PM EST |
Nothing on-topic will be appreciated here, thank you!
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"Love is a snowmobile racing across the tundra and then suddenly it flips over,
pinning you underneath. At night, the ice weasels come." -- Matt Groening[ Reply to This | # ]
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| Authored by: perpetualLurker on Friday, November 19 2010 @ 06:45 PM EST |
...although I saw no problems myself...
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"Love is a snowmobile racing across the tundra and then suddenly it flips over,
pinning you underneath. At night, the ice weasels come." -- Matt Groening[ Reply to This | # ]
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| Authored by: jvillain on Friday, November 19 2010 @ 06:46 PM EST |
Didn't Nortel close down a couple of years ago spending the retirement plan as
they went? I wonder who owns the smouldering embers these days?[ Reply to This | # ]
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| Authored by: perpetualLurker on Friday, November 19 2010 @ 06:46 PM EST |
Please include a link or the title since they scroll off
quite quickly sometimes...
Thank you! ...pL....
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"Love is a snowmobile racing across the tundra and then suddenly it flips over,
pinning you underneath. At night, the ice weasels come." -- Matt Groening[ Reply to This | # ]
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| Authored by: perpetualLurker on Friday, November 19 2010 @ 06:48 PM EST |
Thank you for providing any help and documentation for
this part of the Groklaw environment!
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"Love is a snowmobile racing across the tundra and then suddenly it flips over,
pinning you underneath. At night, the ice weasels come." -- Matt Groening[ Reply to This | # ]
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| Authored by: Anonymous on Friday, November 19 2010 @ 09:55 PM EST |
I gather they care about who buys the assets, but it could be
something else I haven't thought of. When you are the most hated tech company in
the land, so to speak, folks get cautious.
Nortel has their own
bankruptcy concerns (fall-out of the Dot Com boom and bust). I suspect they
don't want to be locked in to any existing contracts with SCO and want to be
able to repudiate them.
[ Reply to This | # ]
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| Authored by: Anonymous on Saturday, November 20 2010 @ 05:00 AM EST |
Seven 9s
99.99999% uptime.[ Reply to This | # ]
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| Authored by: nola on Saturday, November 20 2010 @ 08:47 AM EST |
| ...who gets the records? [ Reply to This | # ]
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| Authored by: Anonymous on Saturday, November 20 2010 @ 04:28 PM EST |
Are there any right now, or is this something that would occur
after the parent company (SCO US) gets a final disposition
from a US court? Or is there some totally unrelated Canadian
Proceedings they're talking about? (eg, didn't Nortel itself
go bankrupt recently?)[ Reply to This | # ]
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- it's the latter - Authored by: Anonymous on Saturday, November 20 2010 @ 04:30 PM EST
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