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IN RE IONICA PLC

Bankruptcy No. 98 B 48860 SMB.

241 B.R. 829 (1999)

In re IONICA PLC, Debtor.

United States Bankruptcy Court, S.D. New York.

December 6, 1999.

Attorney(s) appearing for the Case

Cadwalader, Wickersham & Taft, New York City, David C.L. Frauman, Gregory M. Petrick, of counsel, for Ionica plc.

Weil, Gotshal & Manges LLP, New York City, Harvey R. Miller, Stephen Karotkin, Marc D. Puntus, of counsel, for Ionica Group plc.

Kelley Drye & Warren LLP, New York City, Mark Bane, Sarah L. Reid, of counsel, for Chase Manhattan Bank, as Indenture Trustee.

Lovell White Durrant, New York City, Gary S. Lee, Felice Berkman Brewer, of counsel, for Nortel Networks plc.

MEMORANDUM DECISION GRANTING MOTION TO DISMISS CASE

STUART M. BERNSTEIN, Bankruptcy Judge.

Ionica plc ("Ionica") is a debtor in an administration proceeding pending in the United Kingdom. The Joint Administrators appointed by the English court filed this chapter 11 case for the purpose of asserting claims of equitable subordination and substantive consolidation, neither, they say, being available under English law. Ionica's corporate parent, Ionica Group...

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