UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) ~~December~~January 2321, ~~2009~~2010

NORTEL NETWORKS LIMITED

(Exact name of registrant as specified in its charter)

CANADA	000-30758	62-12-62580
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
5945 AIRPORT ROAD, SUITE 360, MISSISSAUGA, ONTARIO, CANADA		L4V 1R9
(Address of principal executive offices)		(Zip Code)

5945 AIRPORT ROAD, SUITE 360, MISSISSAUGA, ONTARIO, CANADA		L4V 1R9
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code 905-863-7000

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01

Other Events.

~~Monthly~~On ~~Operating~~January 21, 2010, ~~Report~~Nortel Networks Corporation (“NNC”) announced that it, its principal operating subsidiary Nortel Networks Limited (“NNL”) and its other Canadian subsidiaries that filed for creditor protection under the Companies’ Creditors Arrangement Act have obtained an order from the Ontario Superior Court of Justice (“Canadian Court”) further extending, to April 23, 2010, the stay of proceedings that was previously granted by the Canadian Court. The purpose of the stay or proceedings is to provide stability to the Nortel companies to continue with their divestiture and other restructuring efforts.

OnIn addition, ~~December 23~~NNC ~~2009~~also announced that on January 21, ~~NNI~~2010, ait ~~Delaware~~obtained ~~corporation~~approvals from the Canadian Court and athe ~~direct~~United ~~subsidiary~~States Bankruptcy Court for the District of Delaware (“US Court”) of the ~~Registrant,~~Final Canadian Funding and ~~several~~Settlement Agreement, previously announced on December 23, 2009, which, among other ~~direct~~things, ~~and indirect~~provides Uthat Nortel Networks Inc.S. ~~subsidiaries~~(“NNI”) ~~and~~will ~~certain~~pay ~~affiliates~~to ofthe registrant approximately US$190 million over the ~~Registrant~~course ~~(collectively~~of 2010, which amount includes the contribution “of NNI and certain U.S. ~~Debtors”),~~affiliates ~~filed~~towards ~~their~~certain ~~unaudited~~estimated ~~condensed~~costs ~~combined~~to ~~debtors-in-possession~~be ~~financial~~incurred ~~statements~~by ~~included~~the inregistrant on their behalf for the ~~Monthly~~duration ~~Operating~~of ~~Report~~the ~~for~~creditor protection proceedings. These approvals also allow the ~~period~~ ~~from~~creation ~~November 1,~~and ~~2009~~allowance toof ~~November 28,~~a pre-filing ~~2009~~claim ~~with~~in the ~~United~~Canadian ~~States~~creditor ~~Bankruptcy~~protection ~~Court~~proceedings ~~for~~against the ~~District~~registrant in favour of ~~Delaware~~NNI ~~(“U.S.~~in ~~Bankruptcy~~the ~~Court”)~~amount (of $2.0637 billion. In readdition, Nortel ~~Networks~~obtained ~~Inc.,~~various etother ~~al,~~approvals ~~Chapter~~from ~~11,~~the ~~Case~~Canadian ~~No.09-10138). A~~Court ~~copy~~and ofUS Court which, among other things, authorize the ~~Monthly~~registrant ~~Operating~~and ~~Report~~NNI isto ~~attached~~enter asinto ~~Exhibit~~advance 99pricing agreements with the U.1S. and Canadian tax authorities to ~~this~~resolve ~~report~~certain ~~and~~transfer ispricing ~~incorporated~~issues, ~~herein~~on bya ~~reference~~retrospective ~~into~~basis, ~~this~~for ~~Item 8~~the taxable years 2001 through 2005.~~01.~~

The Monthly Operating Report is limited in scope, covers a limited time period, and has been prepared solely for the purpose of the U.S. Debtors’ compliance with the monthly reporting requirements of the U.S. Bankruptcy Court. The financial information in the Monthly Operating Report is unaudited, was not audited or reviewed by independent accountants, and has not been subject to all procedures that would typically be applied to financial information presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”), and therefore may exclude items required by GAAP, such as certain reclassifications, eliminations, accruals, and disclosure items. The Registrant cautions readers not to place undue reliance upon the Monthly Operating Report. There can be no assurance that such information is complete. The Monthly Operating Report may be subject to future adjustment and reconciliation. The Monthly Operating Report is in a format required by the U.S. Bankruptcy Code and should not be used for investment purposes. The information in the Monthly Operating Report should not be viewed as indicative of future results.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

99.1 Monthly Operating Report for the period November 1, 2009 through November 28, 2009

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


NORTEL NETWORKS LIMITED

By:		/S/ ANNA VENTRESCA
		Anna Ventresca General Counsel-Corporate and Corporate Secretary



By:		/S/ GRACE K. MCDONALD
		Grace K. McDonald Assistant Secretary

Dated: ~~December~~January 2422, ~~2009~~2010

EXHIBIT INDEX

Exhibit No.		Description
99.1		Monthly Operating Report for the period November 1, 2009 through November 28, 2009

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