Lead Nortel auditor says he was left in the dark

In what is a zero sum game, a group of former Nortel Networks employees – who were on long-term disability with a variety of illnesses – are the big losers in the bankruptcy workout of the former telecom giant.

In what is a zero sum game, a group of former Nortel Networks employees – who were on long-term disability with a variety of illnesses – are the big losers in the bankruptcy workout of the former telecom giant.

A defence lawyer for former Nortel CEO Frank Dunn clashed with a company auditor Thursday over whether Nortel sought to conceal accounting reserves that padded profits and triggered bonus payments.

Red Deer archivesStudents, Staff and Visitors at the Red Deer Indian Industrial School, c1911.

By Dutch Trader: Investors weren’t the only ones fleeing the stock market this year. US-listed China companies (Harbin Electric, China Security & Surveillance) are also heading for the exits by going private or going dark. Especially when a company decides to "go dark" or voluntarily deregister its shares investors can get boiled. What does it all mean?

Deloitte lead auditor testifies about controversial accounting practices

In the wake of the acquittals of three former senior Nortel Networks executives, the biggest threat to CEOs, senior managers, employees and shareholders in the brave new world of corporate governance may be the company’s board of directors. Pilloried in the past for doing too little at the whiff of potential trouble, boards now increasingly overreach and do so with impunity, even if means destroying a company.

TORONTO — Three former Nortel executives accused of orchestrating a widespread multimillion-dollar fraud will learn their fate Monday, nearly a year after one of the largest criminal trials in Canada’s corporate history began. Ontario Superior Court Justice Frank Marrocco is set to rule on whether ex-CEO Frank Dunn, ex-CFO Douglas Beatty and ex-controller Michael Gollogly manipulated financial statements at Nortel Networks Corp., between 2002 to 2003.