Nortel Network News

B.C.'s top Mountie could have blocked the controversial transfer to B.C. of a disgraced Alberta Mountie, but decided not to.

B.C.'s top Mountie could have blocked the controversial transfer to B.C. of a disgraced Alberta Mountie, but decided not to.

A defence lawyer for former Nortel Networks Corp chief executive Frank Dunn clashed with a company auditor Thursday over whether Nortel sought to conceal accounting reserves that padded profits and triggered bonus payments.

Nortel Network Corp.'s senior executives clashed with increasingly "inflexible" auditors from Deloitte & Touche over the company's controversial use of accounting reserves in mid-2003, a Toronto fraud trial heard Wednesday.

A lawyer for former Nortel Networks Corp. chief financial officer Douglas Beatty told investigators in 2004 that his client "did not do his job" in overseeing Nortel's financial statements in 2002 and 2003, but had no role in manipulating profits at the telecommunications giant.

Through the creditor protection process, Nortel has sold all of its businesses and remaining patents and patent applications generating approximately $7.8 billion in net proceeds for the benefit of its creditors, and preserving 16,000 jobs for employees with the purchasers of the businesses and assets -- Focus remains on maximizing value for ... (more)

Former Nortel Networks Corp. chief executive officer Frank Dunn told company investigators "a lot concerns me" about Nortel's use of accounting reserves to meet profit targets in 2003, but he maintained he was not involved in any improper use of provisions.

The city's secretive treatment of parts of the plans for light rail has councillors worrying about public confidence in the project.

The city's secretive treatment of parts of the plans for light rail has councillors worrying about public confidence in the project.

The trustee of Nortel Networks Inc.'s U.K. pension plan is trying to take a long-running dispute over the plan's $3.1 billion shortfall to the next level: the U.S. Supreme Court.

A ruling expected Monday at the fraud trial of three former Nortel Networks Corp.

Senior officials at Nortel Networks Corp. booked the payment of a special "return to profitability" bonus within days of the end of the first quarter of 2003 even though staff had not completed financial statements yet for the period.