Nortel Networks SA, Re

Nortel Networks SA, Re

It is just and appropriate to set an Expense Bar Date of 29 January 2019 for administration expense claims against NNSA, authorising the Administrators to distribute funds to unsecured creditors through a CVA without reserving for unnotified expense claims, given the length of the administration, the size of potential claims, the publicity and notice given, and the absence of opposition.

Parties
Applicant: Nortel Networks SA (in administration); Consenting Party: NNSA Conflict Administrator
Jurisdiction
England and Wales
Judgment Date
17 July 2018
Procedural Posture
Insolvency Application / Application for Expense Bar Date Order
Outcome
Order granted as sought with additional provision for late applications to vary or set aside by 9 August 2018.
Legal Topics
Administration Expenses, Expense Bar Date, Company Voluntary Arrangement (cva), Distribution to Unsecured Creditors
Insolvency Law Administration Expenses Expense Bar Date Company Voluntary Arrangement (cva) Distribution to Unsecured Creditors

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Parties

Nortel Networks SA (in administration)

Applicant

NNSA Conflict Administrator

Consenting Party

Procedural Posture

Insolvency Application / Application for Expense Bar Date Order

Legal Issues

  1. 1 Whether the court should set an Expense Bar Date for administration expense claims against NNSA
  2. 2 Whether the Administrators should be authorised to distribute funds to unsecured creditors without reserving for unnotified expense claims

Ratio Decidendi

It is just and appropriate to set an Expense Bar Date of 29 January 2019 for administration expense claims against NNSA, authorising the Administrators to distribute funds to unsecured creditors through a CVA without reserving for unnotified expense claims, given the length of the administration, the size of potential claims, the publicity and notice given, and the absence of opposition.

Court Disposition

Order granted as sought with additional provision for late applications to vary or set aside by 9 August 2018.

Orders

  • Expense Bar Date set for 29 January 2019 for administration expense claims against NNSA.
  • Administrators authorised to distribute funds to unsecured creditors through a CVA without reserving for unnotified expense claims.