Feeds

Judge orders Lucent to cough up $240m in bankruptcy case

Winstar wins

HP ProLiant Gen8: Integrated lifecycle automation

Lucent Technologies has vowed to fight a ruling that will see it take a $300m charge in a bankruptcy case.

Judge Joel B. Rosenthal issued an opinion on Wednesday, ordering Lucent to pay former customer Winstar Communications $244m plus interest and other costs. As a result, Lucent intends to take a $300m charge in its first quarter of fiscal 2006. Lucent, however, plans to appeal the decision.

"We have made strong arguments supporting our view that this suit was without merit. We are examining the judge's ruling very carefully and will vigorously appeal the decision," said Lucent's General Counsel Bill Carapezzi.

In April 2001, Winstar filed a $10bn lawsuit against Lucent, alleging that a breach of contract had forced Winstar to file for bankruptcy. Winstar was a large Lucent customer that purchased wireless broadband networking gear. The companies had a long-term purchasing agreement in place that included some financing from Lucent.

Judge Rosenthal operates out of the US Bankruptcy Court in Wilmington, Delaware, and the case is No. 01-1430. ®

Reducing security risks from open source software

More from The Register

next story
Sysadmin Day 2014: Quick, there's still time to get the beers in
He walked over the broken glass, killed the thugs... and er... reconnected the cables*
SHOCK and AWS: The fall of Amazon's deflationary cloud
Just as Jeff Bezos did to books and CDs, Amazon's rivals are now doing to it
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
US judge: YES, cops or feds so can slurp an ENTIRE Gmail account
Crooks don't have folders labelled 'drug records', opines NY beak
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
BlackBerry: Toss the server, mate... BES is in the CLOUD now
BlackBerry Enterprise Services takes aim at SMEs - but there's a catch
The triumph of VVOL: Everyone's jumping into bed with VMware
'Bandwagon'? Yes, we're on it and so what, say big dogs
Carbon tax repeal won't see data centre operators cut prices
Rackspace says electricity isn't a major cost, Equinix promises 'no levy'
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.