Legitimate argument or sour grapes? A Nortel exec says the Canadian government had a lot of chances to help the company before it filed for bankruptcy, but chose not to.
Nortel’s chief strategy officer, George Riedel, says the government simply decided “not to provide any pre-filing support.”
Riedel told the House of Commons on Friday that there were many meetings between Nortel and the federal government in 2008 in attempt to get funding for a number of restructuring plans. But Riedel said the Nortel group was told help was not appropriate because the industry was not at risk.
Of course, you know the rest of the story. Nortel filed for bankruptcy in January.