Nortel provides Q2 update on asset sell-off

TORONTO - Nortel Networks, which has been selling off all of its operations under court protection from creditors since 2009, announced Friday it lost $115 million (U.S.) in its latest quarter.In selling off all of its businesses Nortel has generated approximately $3.2 billion in net proceeds for the benefit of its creditors, and preserving 16,000 jobs for employees with the purchasers of the businesses.Nortel sold the last of its assets on July 1 that included more than 6,000 patents, many involving its wireless technology for $4.5 billion in cash to a consortium that included consortium consisting of Apple, EMC, Ericsson,...