Nortel and Genband discuss CVAS purchase

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Nortel and Genband discuss CVAS purchase Nortel and Genband discuss CVAS purchaseNortel and Genband discuss CVAS purchase

 

23 November 2010

According to Reuters' report, Nortel is alleging that Genband is intending to pay less than the agreed upon some for the Nortel CVAS portion of the company they purchased back in December 2009. Nortel stated that Genband is trying to "drastically and improperly" decrease the price of the purchase. The news comes straight from court papers filed last on Wednesday by Nortel. The papers announce Genband was trying to decrease original $179.5 million price for CVAS to $142.9 million by leveraging provisions in the sale agreement.

Genband wasn't the only target of Nortel's pre-Turkey Day litigation either, as Nokia Siemens Networks also felt some wrath. The company claims NSN breached a licensing contract after they lost their bid for Nortel's optical network to Ciena. What appears to have been an easy way to deal with bankruptcy is starting to look a little more tangled.

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