Application by the administrators of Nortel Networks SA first, for a direction that the administrators are at liberty to apply to the commercial court at Versailles, France pursuant to Article 29A of the EC Regulation of Insolvency Proceedings 2000 for the opening of secondary insolvency proceedings in respect of the Company; second, that the administrators be at liberty to enter into a Protocol with the relevant Administrator appointed by the Commercial Court in any such secondary proceedings opened in respect of the Company. Third, a declaration is sought following the opening of the secondary proceedings that the administrators may be at liberty to apply from time to time such of the assets that is currently under their control to the French liquidators, subject to certain conditions particularly designed to ensure that the assets are properly applied commensurate with the duties of the administrators under English law that the payment of such assets should be subject to a proviso that the Commercial Court makes a full and binding order that the current and future administration expenses arising from administration shall be paid from the assets of the Company situated in the French administration together with all debts, claims, liabilities and expenses payable or arising under or in connection with secondary proceedings, or are otherwise adequately secured for.
Judges:
Kaye QC HHJ
Citations:
[2009] EWHC 1482 (Comm)
Links:
Jurisdiction:
England and Wales
Insolvency, European
Updated: 19 August 2022; Ref: scu.416213