Nortel Networks seeks four-month exclusivity extension; hearing set

By Caroline Salls

Pittsburgh, May 1 - Nortel Networks Inc. requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive plan-filing period to Sept. 11 from May 14 and the solicitation period to Nov. 10, 2009.

According to the motion, the company is still working at this early stage of its bankruptcy case to build a consensus among its constituencies on the terms of a global plan.

A hearing is scheduled for May 20.

Nortel, a Brampton, Ont.-based manufacturer and supplier of telecommunications networking equipment, filed for bankruptcy on Jan. 14. Its Chapter 11 case number is 09-10138.

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