Google Inc. v. Rockstar Consortium US LP et al
Declaration of Kristin J. Madigan in Support of 30 Google Inc.'s Opposition to Defendants' Motion to Dismiss or Transfer filed byGoogle Inc.. (Attachments: # 1 Exhibit 1, # 2 Exhibit 2, # 3 Exhibit 3, # 4 Exhibit 4, # 5 Exhibit 5, # 6 Exhibit 6, # 7 Exhibit 7, # 8 Exhibit 8, # 9 Exhibit 9, # 10 Exhibit 10, # 11 Exhibit 11, # 12 Exhibit 12, # 13 Exhibit 13, # 14 Exhibit 14, # 15 Exhibit 15, # 16 Exhibit 16, # 17 Exhibit 17, # 18 Exhibit 18, # 19 Exhibit 19 - Part 1 of 3, # 20 Exhibit 19 - Part 2 of 3, # 21 Exhibit 19 - Part 3 of 3, # 22 Exhibit 20, # 23 Exhibit 21 - Part 1 of 2, # 24 Exhibit 21 - Part 2 of 2, # 25 Exhibit 22, # 26 Exhibit 23, # 27 Exhibit 24, # 28 Exhibit 25, # 29 Exhibit 26, # 30 Exhibit 27, # 31 Exhibit 28, # 32 Exhibit 29, # 33 Exhibit 30, # 34 Exhibit 31, # 35 Exhibit 32, # 36 Exhibit 33, # 37 Exhibit 34, # 38 Exhibit 35, # 39 Exhibit 36, # 40 Exhibit 37)(Related document(s) 30 ) (Warren, Matthew) (Filed on 2/7/2014) Modified on 2/10/2014 (cpS, COURT STAFF).
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HEA LT H
Business Com puting
OTTAWA — Nortel Networks, the Canadian telecom equipment
maker, filed for bankruptcy protection from creditors Wednesday but
analysts said its troubles might be too severe for it to recover and
A RT S
ST Y LE
T RA V EL
Personal Tech »
Blog » Cellphones, Cam eras,
Nortel Seeks Bankruptcy Protection
By IAN AUSTEN
Published: January 14, 2009
Com puters and m ore
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Unlike other companies, notably airlines, that have used bankruptcy
protection to renew their businesses, Nortel, which began this decade
as one of the world’s largest makers of telecommunications
equipment, is probably headed for liquidation, several analysts said.
“I don’t think it’s going to exist,” said Mark Sue, an analyst with RBC
Capital Markets, a unit of the Royal Bank of Canada.
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If Mr. Sue and others are correct, the end of Nortel would be one of largest failures in the
telecommunications equipment business. During the 1990s, Nortel designed and built
much of the fiber optic equipment that now carries most of the Internet’s data.
Along with the company now known as Alcatel Lucent, it computerized the operation of
telephone networks during the 1980s. Nortel pioneered the development of equipment and
software that brought the world wireless phone networks.
Nortel’s demise would also be among the biggest business failures in Canadian history.
During the zenith of the technology boom, Nortel’s market value accounted for about a
third of all equity traded on the Toronto Stock Exchange.
Nortel’s shares peaked at 124.50 Canadian dollars in July 2000 in trading on the Toronto
Stock Exchange. On Wednesday, Nortel closed at a market price of 12 Canadian cents, or
1.2 cents after adjusting for a stock consolidation. While the current economic slump
contributed to Nortel’s decision to file for protection in both Delaware and its hometown,
Toronto, the company’s problems began in 2001, when it was hit by the technology stock
price collapse and became mired in an accounting scandal that led to criminal charges
against three of its former executives.
Nortel’s woes went beyond finances. In the market for Internet-related equipment, Cisco
Systems and others proved to be more innovative and successful.
The bankruptcy filing was unanimously approved by Nortel’s board at a meeting in
Toronto on Tuesday night. It appears to be an attempt to avoid $107 million in interest
payments that are due on Thursday. While the company has about $2.4 billion in cash,
that is rapidly depleting.
“Nortel must be put on a sound financial footing once and for all,” the president and chief
executive, Mike S. Zafirovski, said in a statement. “These actions are imperative so that
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Nortel can build on its core strengths and become the highly focused and financially sound
leader in the communications industry.”
Without offering details, Mr. Zafirovski, a former senior executive at Motorola, promised
yet another revamp of Nortel. Since the beginning of the decade, Nortel has started a
series of overhauls that have included 16 rounds of layoffs.
But Paul Holman, the managing director of the debt rating agency DBRS, said that the
uncertainty created by the bankruptcy filing creates a new problem for Nortel.
“Customers will be concerned about how long they are going to be around,” he said. Mr.
Sue added that Nortel’s competitors will try to exploit that unease by offering Nortel
customers enticing deals to switch systems.
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It is also unclear if Nortel will be able to sell any of its operating units to raise cash for a
In September, Nortel announced plans to sell a business unit that makes Internet-related
and fiber optic equipment. While many analysts viewed it as a strong asset, Nortel has not
found a buyer.
Nortel announced a third-quarter loss of $3.4 billion in November, much of that related to
write-downs in the value of several operations.
Nortel’s $4.5 billion in debt is largely from the result of an acquisition spree by the
company during the 1990s.
The government of Canada offered Nortel some support. Export Development Canada, a
government-owned bank and insurer, has agreed to provide the company with up to $30
million in loans for the next 30 days.
A version of this article appeared in print on January 15, 2009, on page
B2 of the New York edition.
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