- Administrators’ failure to seek approval from creditors for remuneration (Re Nortel Networks France SAS)
- What are the practical implications of this case?
- What was the background?
- What did the court decide?
- Case details
Restructuring and Insolvency analysis: This case highlights the consequences of administrators not seeking approval from creditors for their fees early on during the insolvency process. The court ordered the office-holders’ costs in the application be reduced because they had not approached the creditors at an early enough stage in the proceedings. Alan Bennett, partner at Ashfords LLP, considers the background to and practical implications of the judgment.
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