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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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