John roese nortel bankruptcy

Nortel Networks filed Jan. 14 for Chapter 11 bankruptcy protection in the U.S. and under the Companies' Creditors Arrangement Act (CCAA) in Canada, just days before it was expected to pony up a $107 million interest payment.

The filing comes as Nortel attempts to recover from its worst quarter in years and one of the toughest periods in its history. Here, we look at some of the recent highs and lows of Nortel, which managed to slip from the top of the world into bankruptcy protection in less than a decade.





May 1, 2000



Roughly 118 years after spawning Nortel Networks as its in-house mechanical department, Bell Canada (BCE) distributes 94 percent of its Nortel Networks stake to shareholders.

Nortel Networks is now a completely independent global company.

Jan. 18, 2001



Nortel posts fourth quarter results on par with Wall Street expectations. Nortel earned $825 million on revenue of $8.82 billion, compared to earnings for $697 million o