Nortel Networks sought bankruptcy protection in 2009 after a decade of expansion and debt.
Nortel Networks was Canada’s largest technology company and a major supplier of telecommunications equipment. It invested heavily in optical networking and other infrastructure during the late-1990s technology boom, but demand collapsed after the dot-com bubble burst.
The company filed for protection under Canada’s Companies’ Creditors Arrangement Act on January 14, 2009. It also sought related protection in the United States and other jurisdictions. Nortel sold major business units and patent assets during the lengthy restructuring, and the company was eventually wound down.
Nortel is sometimes confused with BlackBerry, another Canadian technology company that experienced major difficulties but did not file the same kind of bankruptcy proceeding. Nortel’s collapse remains one of Canada’s most important corporate insolvencies.