Second time lucky for Smile Telecoms’ groundbreaking restructuring plan
Smile Telecoms is a holding company of an internet and telecoms business operating out of Africa that is incorporated in Mauritius (Credit: Shutterstock.com/9nong)
Partner Mark Fine and senior associate Nicholas Jupp at McDermott Will & Emery in London examine two novel aspects to the restructuring plan that the English High Court sanctioned for African telecoms group Smile earlier this year: its exclusion of out-of-the-money creditors, and the fact it varied the rights of a foreign company’s shareholders.
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