NOTICE OF DECLARATION OF DIVIDEND – 21 June 2018

 

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

NOTICE IS HEREBY GIVEN that a second and final dividend in respect of admitted Provable Claims of 5p in the pound has been declared in the CVA of the Company. In addition this dividend includes an amount in respect of Commercial Interest which is being paid in full on admitted Provable Claims. 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 2.80% 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 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 Company 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 Supervisor’s appointment.