Nortel extends creditor protection through July

TORONTO - Nortel Networks has been granted an extension of its stay period under the Companies' Creditors Arrangement Act (CCAA) for another three months.The company announced Wednesday that the Ontario Superior Court of Justice has issued an extension through July 22, 2010. The purpose of the stay of proceedings is to provide stability to the Nortel companies to continue with their divestiture and other restructuring efforts.www.nortel.com