Administration Extension Application for Nortel Networks Romania SRL (in Administration)
06 December 2018
Nortel Networks Romania SRL (In Administration) (the “Company”)
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 administration of the Company.
Under English law, administration lasts for one year unless extended. As you are aware, administration orders were made in respect of the Company by the High Court in London, on 14 January 2009. Following extension application made by the Joint Administrators, the administration was most recently extended on 14 December 2017 by order of Mr Justice Snowden. The administration is currently due to expire on 13 January 2019.
The application to extend the administration is largely a procedural matter, which the Joint Administrators consider is in the interests of the Company and its creditors. I have recently sent to creditors a general update on the progress of the administration and I am pleased to refer you to the most recent progress report dated 10 August 2018 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 Company in the matters referred to in the most recent progress report. This would lead to further delay, expense and, ultimately, a less favourable outcome for the Company's creditors.
For these reasons, the Joint Administrators will shortly apply for an extension of the administration of the Company. 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 Company, the Institute of Chartered Accountants in England and Wales in the UK authorises AR Bloom and SJ Harris 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 to act as Insolvency Practitioner under section 390A(2)(a) of the Insolvency Act 1986.
The affairs, business and property of the Company are being managed by the Joint Administrators, AR Bloom, SJ Harris and AM Hudson who act as agents of the Company only and without personal liability.
The Joint Administrators 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 2018.
The Joint Administrators may act as data controllers of personal data as defined by the General Data Protection Regulation 2016/679, depending upon the specific processing activities undertaken. Ernst & Young LLP and/or the Companies may act as a data processor on the instructions of the Joint Administrators. Personal data will be kept secure and processed only for matters relating to the Joint Administrators’ appointment. The Office Holder Data Privacy Notice can be found at www.ey.com/uk/officeholderprivacy.