Re Hellas Telecommunications (Luxemburg) II SCA

Re Hellas Telecommunications (Luxemburg) II SCA

Hellas II qualifies as a company under the Insolvency Act 1986, and its COMI has shifted to England based on objective evidence. The company is insolvent, and administration will produce a better result for creditors than winding up. The Weather bid is the only viable option, and the administrators are granted liberty to enter into the pre-pack sale.

Parties
Applicant: Hellas Telecommunications (Luxembourg) II SCA; Applicant: Directors of Hellas Telecommunications (Luxembourg) II SCA; Respondent: Administrators; Interested Party: Senior Secured Noteholders
Jurisdiction
England and Wales
Judgment Date
26 November 2009
Procedural Posture
Administration Application / Judgment
Outcome
administration order granted
Legal Topics
Administration Order, Centre of Main Interests (comi), Pre Pack Sale, Jurisdiction, Creditor Rights
Insolvency Company Law Administration Order Centre of Main Interests (comi) Pre Pack Sale Jurisdiction Creditor Rights

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 4 Party arguments 2
Sign in to unlock

Parties

Hellas Telecommunications (Luxembourg) II SCA

Applicant

Directors of Hellas Telecommunications (Luxembourg) II SCA

Applicant

Administrators

Respondent

Senior Secured Noteholders

Interested Party

Procedural Posture

Administration Application / Judgment

Legal Issues

  1. 1 Whether Hellas II is a company within the meaning of the Insolvency Act 1986
  2. 2 Whether the company's centre of main interests (COMI) is in England
  3. 3 Whether administration will produce a better result for creditors than winding up

Ratio Decidendi

Hellas II qualifies as a company under the Insolvency Act 1986, and its COMI has shifted to England based on objective evidence. The company is insolvent, and administration will produce a better result for creditors than winding up. The Weather bid is the only viable option, and the administrators are granted liberty to enter into the pre-pack sale.

Court Disposition

administration order granted

Orders

  • Administrators are granted liberty to enter into the pre-pack sale to Weather.