Comments on: Chapter 10, in Which Nortel Mulls Chapter 11

By: Nortel Does the Inevitable [Digital Daily] | LinkTouch

Nortel Does the Inevitable [Digital Daily] | LinkTouch — Wed, 14 Jan 2009 19:02:38 +0000

[...] took far longer than expected, but Nortel has finally thrown in the towel. This morning the long-suffering telecommunications [...]

By: Carolynn Ramsey

Carolynn Ramsey — Wed, 14 Jan 2009 17:57:17 +0000

It is apparently the end of the ’short road’ since Nortel filed for Chapter 11 today. Imminent, as you pointed out, does not mean the same as ‘never’ or ‘in the near future’. It simply means not at this moment, but we make no promises.

By: Nortel Does The Inevitable | John Paczkowski | Digital Daily | AllThingsD

Wed, 14 Jan 2009 16:03:33 +0000

[...] took far longer than expected, but Nortel’s (NT) finally thrown in the towel. This morning the long-suffering [...]

By: Nortel Agonistes | John Paczkowski | Digital Daily | AllThingsD

Nortel Agonistes | John Paczkowski | Digital Daily | AllThingsD — Fri, 12 Dec 2008 22:53:14 +0000

[...] Networks (NT) is slipping closer to the abyss each day. Earlier this week it was reported that the long-suffering telecommunications equipment maker is seeking advice from Lazard Ltd. and [...]

By: John Paczkowski

John Paczkowski — Wed, 10 Dec 2008 20:51:56 +0000

I didn’t imply Nortel was about to file bankruptcy. I said it’s been reported that the company has hired counsel to consider it. Moreover, I specifically noted in the post that the company claims no such filing is “imminent,” which in this case is a very interesting choice of words.

If Nortel wasn’t considering bankruptcy protection, wouldn’t it have said so definitively?

Saying “no filing is imminent” is essentially like saying “we’re not filing for bankruptcy tomorrow.” And it offers no guarantees whatsoever about what might happen the day after.

By: Bo Gowan

Bo Gowan — Wed, 10 Dec 2008 20:03:28 +0000

Hey John.

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Looks like Sue was right, and the road to which he referred was a short one.
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Don’t you think that’s a bit of a jump from what the WSJ article says: Nortel “has sought legal counsel to explore bankruptcy-court protection from creditors in the event that its restructuring plan fails, according to people familiar with the situation.”

That is a far cry from implying an imminent Nortel bankruptcy. In fact in the WSJ story the Nortel spokesperson says that “no bankruptcy filing is imminent.”

A few more Nortel comments on the WSJ article can be found on this Nortel blog: http://tinyurl.com/58sybq