Bankrupt cable firm wants millions from Nortel

9 Jan 2003

Canadian broadband cable operator 360networks, which emerged from bankruptcy last November, and a committee of its unsecured creditors have filed a USD101.1 million lawsuit against equipment vendor Nortel Networks. The suit aims to recover transfers made within the 90 days before 360’s bankruptcy in June 2001 which, under US law, may be redistributed amongst all of its creditors.