Nortel Creditors Clamor for Millions of Unpaid Dollars

Even though Nortel Networks Corp. (NT) execs knew the company was in financial trouble, they still racked up more than $50,000 worth of purchases at Texas Stadium, home of the Dallas Cowboys, in the 2008-2009 season.

Those high-ranking company officials are accused of not paying for overpriced splurges on Jack Daniels, Crown Royal, Bud Light, an eight-pack of Diet Coke and crispy chicken.

That’s according to new documents that show hundreds of people in the United States have filed claims against bankrupt Nortel, one of those entities being Texas Stadium Corp.

Another creditor is ex-Nortel CEO William Owens. He says his former employer still owes him $2.2 million.

The Museum of Nature and Science in Dallas also is going after Nortel for not paying the $5,000 it promised for a charity event.

To top it off, hundreds of former employees are fighting for Nortel to make good on severance packages.

The latest set of revelations comes after it was discovered that Nortel CEO Mike Zafirovski had been using the corporate jet for extensive personal use.

Leave a comment

Your email address will not be published. Required fields are marked *


Which best describes your business?

View Results

Loading ... Loading ...
The ID is: 78518