NOTICE TO CREDITORS REGARDING THE ADMINISTRATION EXTENSION APPLICATION
28 November 2017
Nortel Networks Austria GmbH (In Administration)
Nortel Networks N.V. (In Administration)
Nortel Networks s.r.o. (In Administration)
Nortel Networks France S.A.S. (In Administration)
Nortel GmbH (In Administration)
Nortel Networks Engineering Service Kft (In Administration)
Nortel Networks (Ireland) Limited (In Administration)
Nortel Networks S.p.A. (In Administration)
Nortel Networks B.V. (In Administration)
Nortel Networks International Finance & Holding B.V. (In Administration)
Nortel Networks Polska Sp. z o.o. (In Administration)
Nortel Networks Portugal S.A. (In Administration)
Nortel Networks Slovensko s.r.o. (In Administration)
Nortel Networks Hispania S.A. (In Administration)
Nortel Networks AB (In Administration)
Nortel Networks UK Limited (In Administration)
Nortel Networks OY (In Administration)
Nortel Networks Romania SRL (In Administration)
Nortel Networks S.A. (In Administration)
Together "the Companies".
Re: Application by the Joint Administrators to Extend the Administration Order
This notice is to advise you that the Joint Administrators will shortly apply to the English Court to extend the duration of the administrations of the Companies.
Under English law, administration lasts for one year unless extended. As you are aware, administration orders were made in respect of the Companies by the High Court in London, on 14 January 2009. Following extension applications made by the Joint Administrators, the administrations were most recently extended on 2 December 2015 by order of Mr Justice Snowden. The administrations are currently due to expire on 13 January 2018.
The applications to extend the administrations are largely a procedural matter, which the Joint Administrators consider is in the interests of the Companies and their creditors. The Joint Administrators have recently sent to creditors a general update on the progress of the administrations and we are pleased to refer you to the most recent progress report dated 11 August 2017 available on this website. We don't propose to update you in depth in this notice and further details will be provided in the witness statement that will be made available on this website.
Without an extension of their term of office, the Joint Administrators would be unable to continue to represent the interests of the creditors of the Companies in the matters referred to in the most recent progress report. This would lead to further delay, expense and, ultimately, a less favourable resolution for the Companies' creditors.
For these reasons, the Joint Administrators will shortly apply for an extension of the administrations of the Companies. If you would like to discuss the contents of this notice or have any comments on the proposed extension to the administration, please do not hesitate to contact the Joint Administrators by calling +44 (0)118 328 2523, sending an email to nortelemea@uk.ey.com or writing to The Joint Administrators, Nortel Networks, Unit 120, 400 Thames Valley Park Drive, Thames Valley Park, Reading, Berkshire, RG6 1PT, United Kingdom.
For the Companies listed below, The Institute of Chartered Accountants in England and Wales in the UK authorises AR Bloom, SJ Harris and AM Hudson to act as Insolvency Practitioners under section 390A(2)(a) of the Insolvency Act 1986 and the Association of Chartered Certified Accountants in the UK authorises AM Hudson and DM Hughes to act as Insolvency Practitioners under section 390A(2)(a) of the Insolvency Act 1986. The Institute of Chartered Accountants in Scotland in the UK authorises J Hewitt-Schembri to act as an Insolvency Practitioner under section 390A(2)(a) of the Insolvency Act 1986.
The affairs, business and property of the Companies are being managed by the Joint Administrators, A R Bloom, SJ Harris and AM Hudson who act as agents of the Companies only and without personal liability.
The Companies are Nortel Networks UK Limited; Nortel GmbH; Nortel Networks France S.A.S.; Nortel Networks N.V.; Nortel Networks S.p.A.; Nortel Networks B.V.; Nortel Networks Polska Sp. z o.o.; Nortel Networks Hispania, S.A.; Nortel Networks (Austria) GmbH; Nortel Networks s.r.o.; Nortel Networks Engineering Service Kft.; Nortel Networks Portugal, S.A.; Nortel Networks Slovensko s.r.o.; Nortel Networks Oy; Nortel Networks Romania SRL; Nortel Networks AB; Nortel Networks International Finance & Holding B.V.
The affairs, business and property of Nortel Networks (Ireland) Limited are being managed by the Joint Administrators, AR Bloom and DM Hughes, who act as agents of Nortel Networks (Ireland) Limited only and without personal liability. Nortel Networks (Ireland) Limited is also subject to a Company Voluntary Arrangement. The Joint Supervisors are AR Bloom and DM Hughes who act as agents of Nortel Networks (Ireland) Limited without personal liability.
The affairs, business and property of Nortel Networks S.A. are being managed by the Joint Administrators, AR Bloom, SJ Harris and AM Hudson who act as agents of Nortel Networks S.A. only and without personal liability.
The following companies are also subject to Company Voluntary Arrangements: Nortel Networks S.p.A, Nortel Networks Polska Sp. z o.o, Nortel Networks Hispania, S.A, Nortel Networks Engineering Service Kft, Nortel Networks Portugal, S.A, Nortel Networks France S.A.S, Nortel Networks (Austria) GmbH, Nortel Networks AB, Nortel GmbH, Nortel Networks Slovensko s.r.o, Nortel Networks s.r.o., Nortel Networks N.V., Nortel Networks International Finance & Holding B.V. and Nortel Networks B.V. (the "CVA Companies"). The Joint Supervisors are AR Bloom, SJ Harris, AM Hudson and J Hewitt-Schembri who act as agents of the CVA Companies and without personal liability.
Nortel Networks S.A. was placed into French liquidation judiciaire on 28 May 2009. The business and assets of the company that are situated in France are now under the control of le liquidateur judiciaire.
The Joint Administrators and Joint Supervisors may collect, use, transfer, store or otherwise process (collectively, “Process”) information that can be linked to specific individuals (“Personal Data”). They may Process Personal Data in various jurisdictions in accordance with applicable law and professional regulations including (without limitation) the Data Protection Act 1998.