NOTICE REGARDING COURT HEARING IN RESPECT OF APPLICATION FOR BAR DATE IN RESPECT OF ADMINISTRATION EXPENSE CLAIMS
7 June 2018
Nortel Networks S.A. ( “NNSA” or the "Company")
As was noted in the notice in respect of an application for a bar date in respect of administration expense claims dated 14 March 2017 (and as was previously detailed in the Administrators' Progress Report for the period 14 July 2016 to 13 January 2017), the Joint Administrators of NNSA intend to apply to the English Court seeking an order requiring creditors who may consider that they have a claim against the Company that ranks as an administration expense (i.e. relates to the period after 14 January 2009) as a matter of English law to submit a written demand before a bar date.
As was noted in the notice on the website dated 6 April 2017, an application was not made on behalf of NNSA at the same time as the applications for all other EMEA Companies. Now that the Joint Administrators of NNSA expect to shortly be in a position to give notice of a meeting of the creditors to decide on a creditors' voluntary arrangement ("CVA") in respect of NNSA, they intend to make the application described above.
The Joint Administrators are in the process of finalising the application and the evidence in support of the application. The hearing of the application is scheduled to take place on Thursday 12 July 2018 (as to which see further below). An indicative draft of the order which the Joint Administrators intend to seek from the Court is available at the link below. It is not anticipated that creditors who consider that they have a claim against the Company that ranks as an administration expense would need to submit a written demand (if the relief sought is granted by the Court) until early 2019.
The Joint Administrators will submit evidence to the Court in respect of this hearing and anticipate doing so by 21 June 2018. When submitted, this evidence along with the application and the order sought will be made available on the website, save for any material which the Joint Administrators are applying to the Court to retain as confidential.
The Joint Administrators will provide a further update in due course.
The hearing of the application is scheduled to take place on Thursday 12 July 2018 at the Rolls Building, London. If you consider that you are affected by this application then you have the right to appear at the hearing and be heard if you choose to do so. If you do intend to do appear at the hearing, please inform the Joint Administrators or our solicitors, Herbert Smith Freehills LLP (c/o Philip Lis, philip.lis@hsf.com) at your earliest convenience.