Akin Gump Advises Official Committee of Unsecured Creditors of Nortel Networks Inc. in $4.5 Billion Bankruptcy Auction

A team of Akin Gump attorneys advised the Official Committee of Unsecured Creditors of Nortel Networks Inc. in Nortel Network Corporation’s recent bankruptcy auction of more than 6,000 patents and patent applications. After a multi-day auction, a consortium consisting of Apple, EMC, Ericsson, Microsoft, Research In Motion and Sony emerged as the winning bidder with a purchase price of $4.5 billion. The sale is subject to applicable Canadian and U.S. Court approvals, and is expected to close in the third quarter of 2011.