Nortel and Genband VoIP Row
A row has erupted between Nortel and Genband about purchasing their VoIP solutions.
The Nortel carrier applications and VoIP solutions unit is known as CVAS and originally a deal was struck to sell CVAS to Genband 182 million dollars.
However although it is thought that the deal was finalised in February, Nortel has now claimed that Genband is trying to "improperly and drastically" reduce the purchase price by 40 million dollars.
A company statement said: "Genband has attempted to disregard the clear terms of the original sale agreement."
Nortel filed for protection from creditors nearly two years ago and is trying to maximise all business investments to keep up payments to them.
But on the other side Genband is asking the US Bankruptcy Court in Delaware to arbitrate on the matter.
Genband initially offered 300 million dollars for CVAS. There was a 'stalking horse' deal which would have resulted in an auction but without any other bidders the unit fell to Genband by default.
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