Bankrupt Nortel Networks Corp. (NT) wants the U.S. and Canadian governments to extend its creditor protection timeline to May 1.
That way, the telecom equipment maker gets more time to reorganize without debtors beating down the doors. (A thought: perhaps Nortel could give its $17 million jet to the entities it owes??)
The extension Nortel seeks actually is routine but there’s no word yet on whether the request will be granted.
