These included consideration of the impact of the CCAA and Chapter 11 filings on Nortel's businesses including the deterioration of sales, the goal of maximizing the underlying value for its operations, preserving jobs, and continuing operations in both Canada and the U.S. The Ontario Court also recognized that, as certain of the U.S. debtors were parties to the Nokia Agreement, the goal of maximizing value for the benefit of stakeholders was a salient consideration for the courts. The sales process was deemed appropriate after considering the four criteria enumerated by Morawetz J. regarding the benefit to the whole economic community, and the stalking horse sale process was approved by the Ontario Court. 11 After the auction, Telefonaktiebolaget LM Ericsson (PUBL) ("Ericsson") emerged as the successful bidder with a final bid of US$1.3 billion, which was twice the amount of the stalking horse. The Ericsson bid was ultimately approved by both the U.S. Bankruptcy Court and the Ontario Court.