Posted by & filed under Accounting Careers, Advanced Accounting.

Description: After seven long years, it looks like Nortel pensioners will have a better deal as this bankruptcy saga winds down. While pensioners are probably relieved to see issues settled, it has been a very expensive process. The total for legal and professional services paid out of the Nortel funds is over $2.5 billion, making it the most expensive bankruptcy to date in Canada.

 Date: October 13, 2016

Source: theglobeandmail.com

Link:

http://www.theglobeandmail.com/report-on-business/nortel-settles-fight-to-divvy-up-73-billion-from-liquidation/article32346673/

Discussion Points:

1) What do you know about the Nortel story?

2) What are some of the accounting issues you might have to deal with if you worked for a creditor of Nortel?

3) Does a career as a bankruptcy trustee appeal to you?

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