Delaware bankruptcy court restricts Nortel trading
Bankruptcy
The U.S. Bankruptcy Court for the District of Delaware ordered trading restrictions on shares of Nortel Networks Corp., the Canadian telecommunications equipment maker said Friday.
Toronto-based Nortel said restrictions were set on trading of its common shares and on two types of preferred shares - cumulative redeemable class A preferred shares series 5 and non-cumulative redeemable class A preferred shares series 7.
Nortel also said the court's order informs shareholders of claims against the company and the possibility of debt trading restrictions in the future.
The company, which has seen a large drop in orders from phone companies, filed for bankruptcy protection in Canada and the U.S. on Wednesday. It is the first major technology company to do so during the economic downturn.
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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.