NOTICE OF DECLARATION OF DIVIDEND – 21 March 2019

 

Nortel Networks (Ireland) Limited (In Administration and subject to a Company Voluntary Arrangement (“CVA”) (the “Company”)

NOTICE IS HEREBY GIVEN that a third interim dividend in respect of Allowed Claims of 16.6p in the pound of accrued Commercial Interest has been declared in the CVA of the Company. In accordance with the terms of the CVA, Commercial Interest is paid on Allowed Claims (on a pro-rata basis by reference to the value of the Allowed Claim) from 14 January 2009, to the date on which the relevant Allowed Claim is paid, at a rate of 5.2% per annum.

This dividend is in addition to the to the 100p in the pound previously paid in respect of Allowed Claims.

Terms defined in this notice have the meaning given to them in Annex 1 (Definitions and Interpretation) of the Company Voluntary Arrangement dated 5 June 2017.

For further information please email us at cva@emeanortel.com or call +44 (0)118 328 2523. Each creditor who will be receiving a dividend will also be receiving a formal letter in the post with further details.

 

In respect of the Company, The Institute of Chartered Accountants in England and Wales in the UK authorises A R Bloom to act as an Insolvency Practitioner under section 390(2)(a) of the Insolvency Act 1986 and the Association of Chartered Certified Accountants in the UK authorises D M Hughes to act as an Insolvency Practitioner under section 390(2)(a) of the Insolvency Act 1986.

The affairs, business and property of Nortel Networks (Ireland) Limited are being managed by the Joint Administrators, A R Bloom and D M 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 A R Bloom and D M Hughes who act as agents of Nortel Networks (Ireland) Limited without personal liability.

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 2018. For further details, please refer to the Data Privacy Policy at https://cva.emeanortel.com.

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 Administrator’s appointment. The Office Holder Data Privacy Notice can be found at https://www.ey.com/uk/officeholderprivacy.