NOTICE OF DECLARATION OF DIVIDEND – 2 April 2019

 

Nortel Networks Portugal S.A (In Administration and subject to a Company Voluntary Arrangement (“CVA”) (the “Company”)

NOTICE IS HEREBY GIVEN that a final dividend in respect of CCAA Subordinated Claims of 100p in the pound has been declared in the CVA of the Company. In addition this dividend includes an amount of 20.374904p in the pound in respect of Commercial Interest accrued on CCAA Subordinated Claims. 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 4.32% per annum.

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

 

The Institute of Chartered Accountants in England and Wales in the UK authorises A R Bloom and S J Harris to act as Insolvency Practitioners under section 390A(2)(a) of the Insolvency Act 1986. The Association of Chartered Certified Accountants in the UK authorises A M Hudson to act as an Insolvency Practitioner under section 390A(2)(a) of the Insolvency Act 1986. The Institute of Chartered Accountants in Scotland in the UK authorises J Hewitt-Schembri to act as an 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, A R Bloom, S J Harris and A M Hudson who act as agents of the Company only and without personal liability. The Company is also subject to a Company Voluntary Arrangement. The Joint Supervisors are A R Bloom, S J Harris, A M Hudson and J Hewitt-Schembri who act as agents of the Company only and 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 and Joint Supervisors 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 and Joint Supervisors. Personal data will be kept secure and processed only for matters relating to the Joint Administrator’s and Joint Supervisors’ appointment. The Office Holder Data Privacy Notice can be found at https://www.ey.com/uk/officeholderprivacy.