At Nortel, All the Straws Are Short

Adding to the telecom-equipment maker's woes: It could soon be in default of a $326 million guarantee by Export Development Canada

Tense times at Nortel Networks, stemming from its ongoing accounting woes, are about to become even more tense. The Brampton (Ont.) telecom-equipment giant faces a May 29 deadline to present audited financial data to a key financial guarantor -- or possibly face a multimillion-dollar payment. That deadline has the potential to create a financial crunch, analysts say.

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