Nortel wins approval for sale of businesses
Business Law
Nortel Networks Corp. said late Wednesday it won court approval in the U.S. and Canada to sell two of its business units.
The larger unit, Nortel's global optical networking and carrier ethernet businesses, is going to Ciena Corp. The business is one of the most sought-after assets of Nortel, a once-dominant network gear maker that is selling itself off in pieces after filing for Chapter 11 protection in January.
The deal gives Ciena all products, contracts, and intellectual property, including technology that improves the speed and capacity of fiber optic networks.
Bankruptcy courts in Delaware and Ontario approved the deal over objections by Finnish rival Nokia Siemens Networks, which said that it would be willing to pay $810 million in cash for the business with its partner, One Equity Partners.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.