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Nortel walks from $18 million clean-up cost



By Shari Elliott

It is no surprise that Nortel is insolvent and seeking to restructure under the Companies’ Creditors Arrangement Act (CCAA).

What is a surprise is the ruling this month of the Ontario Superior Court of Justice that the Ministry of Environment orders, which require Nortel to perform environmental clean-up work, do not take priority ahead of other obligations. Read Elliott & Elliott Blog