Friday, October 23, 2009

Monitor report on Nortel status

Ernst & Young have published their 25th report on Nortel.

It is contained in docket 1719 on the Epiq website.It contains information on Nortel's current cash position and the status in terms of the various entities around the world.

It shows that Nortel still has $2.9 Billion in cash though some of it is restricted due to the restructuring and various legal agreements. This is cash for and from operations and does not include the sale of businesses which will complete before the end of the year. The amounts from those sales will be held in a separate account until agreement is reached as to how the money will be divided between the various Nortel entities.

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