Nortel estate sale
By: Jeff Beer
The downward spiral of Nortel Networks—worth $1,245 a share at its peak in 2000—marks one of Canada’s most monumental collapses, one that left smouldering debris in many a stock portfolio. Two years after nosediving sales and soaring debt forced the company into bankruptcy, the yard sale of its most valuable assets continues. So far, Nortel has reportedly amassed US$3.2 billion for its various businesses, but the mediation process aimed at divvying up those proceeds among the company’s creditors and other stakeholders failed in April. In June, Nortel will auction off more than 6,000 patents, the last significant chunk of its once massive intellectual property arsenal. Here is where its other components live on.