Ontario · CCAA
The purpose of this Forty-Seventh Report of the Monitor (the "Forty-Seventh Report") is to provide the Monitor's evidence and recommendation on the motion brought by Nortel Networks UK Pension Trust Limited (the "Trustee") and the Board of the Pension Protection Fund (the "PPF") seeking, inter alia, to lift the stay of proceedings granted to the Applicants in the Initial Order to allow the FSD Proceeding (as defined below) to "go forward as permitted proceedings" such that the FSD Proceeding shall not be null and void in Canada
Court officer report · 17 May 2010
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What we verified from this filing2 verified
- purchaserprice: note: expected sale proceeds of approximately $182 million · basis: cash · amount: 182000000 · sealed: false · currency: USD · scope: the sale of Nortel's CV AS business · status: approved · name note: purchaser of the CVAS business, unnamed · structure: assets · name source: recital · relationship: unstated; price: note: sale expected to yield proceeds of approximately $242 million in addition to a dividend to NNL of approximately $90 million · basis: cash · amount: 242000000 · sealed: false · currency: USD · scope: NNL's interest in the LG-Nortel joint venture · status: approved · name note: purchaser of NNL's interest in the LG-Nortel joint venture, unnamed · structure: shares · name source: recital · relationship: unstated; price: note: sale proceeds valued at approximately $769 million · basis: cash · amount: 769000000 · sealed: false · currency: USD · scope: the MEN business · status: approved · name note: purchaser of the MEN business, unnamed · structure: assets · name source: recital · relationship: unstated; price: note: proceeds of approximately $103 million; stated amount not found on page · basis: cash · sealed: false · currency: USD · scope: GSM/GSM-R business · status: approved · name note: purchaser of the GSM/GSM-R business, unnamed · structure: assets · name source: recital · relationship: unstated
- sale outcometext: Nortel has been auctioning off its various global businesses as a means of preserving those businesses as going concerns and maximizing value for its global creditors. To date, these auctions have resulted in expected sale proceeds to Nortel of approximately $3 billion. · scope: whole_business · status: liquidation_in_progress