Tech disasters: Nortel Networks

I've probably missed a few recent tech failures since I've been too busy the last few weeks to track this stuff, but this one is too big to ignore.

Nortel Networks, Inc. filed a chapter 11 petition this morning in the District of Delaware. The main case number is 09-10138. I suspect there is also a related Canadian proceeding of parent company Nortel Networks Corporation. Cleary Gottlieb is lead counsel.