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Posted in Nortel UK goes into administration to save itself
Posted Thursday 15th January 2009 20:46 GMT
Ian Coutts

Canada has no "Chapter 11"

"The company said yesterday that its US and Canadian businesses were seeking Chapter 11 bankruptcy protection."

Not to put too fine a point on it, but "Chapter 11" is purely an instrument of the USA. Canadian bankruptcy applies quite a different process. Having never been bankrupt in either of those sovereign nations I can't clearly describe those differences. But I do know they are different.

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