Bell Group N.V. (in Liquidation)

In July 1996, Bell Group NV (“BGNV”) was placed in to winding up. Liquidations in Curaçao, U.K. and Australia have resulted in distributions to creditors of the failed business.

After years of litigation, in 2020 a Scheme of Arrangement was agreed, allowing for a settlement and distribution to the groups creditors. With the liquidation now concluded bondholders have no method to remove the bonds from their accounts.

Southey Capital is pursuing a a final write down of the notes which may benefit Southey Capital and other holders to have a final write-down value of the outstanding notes.

The notes are still eligible to settle in Euroclear and we wish to purchases all available notes tendered so that we can the formalise the end of the position.

Security Issue
Original ISIN
BELLGR 11% due 1995A$ 75mCH0005575151477279
BELLGR 5% due 1997GBP 75mGB00409017111773184090171 (LU)481426
BELLGR 10% due 1997A$ 175mXS00000012471476214092371480769

Voluntary Tender Offer:
On the 26th of June 2024, Southey Capital has published a voluntary offer to holders of the Bell Group N.V. notes as of the 26th of June.

– Payment upon delivery ( DVP ) settlement payment to be made via securities settlement system.
Holders can contact Southey Capital via: or +44 203 745 7940 regarding any enquiries and further information.

Offer documentation
Acceptance for responding holders

– The notes are deliverable against payment in Euroclear
– Payment upon delivery ( DVP ) settlement payment to be made via securities settlement system.

Bell Group NV bonds outstanding:
Bell Group 11% due 1995 CH0005575151
Bell Group 10% due 1997 XS0000001247
Bell Group N.V. 5% due 1997 GB0040901711

Related Links and Articles:

Former Bell Group liquidator faces wind-up order of his own
Bell Group NV Bankruptcy documents.
Insolvency Lawyers association Westpac vs Bell write-up
Bell Group write-up
Bell Group Litigation