Regional news: Mauritius

ArcelorMittal sues Essar over “fraudulent conveyance”

Luxembourg-headquartered steel producer ArcelorMittal is suing Indian conglomerate Essar Group in New York, accusing it of thwarting a US$1.4 billion arbitral award by causing a Mauritian subsidiary’s insolvency.

20 August 2021

Heads Up: Grant Thornton UK’s Africa group leader Amaechi Nsofor

Partner and head of Grant Thornton’s Africa insolvency & asset recovery offering Amaechi Nsofor speaks to GRR about the challenges of enforcing securities and judgments in Africa, why he expects creditors with assets in the region to turn to funding solutions, and how Grant Thornton’s asset recovery fund represents a "first mover" advantage.

29 July 2021

Light-touch – not soft-touch – PLs for African oil and gas group

Offering a rare glimpse into a cross-border insolvency in Africa, a Cayman court has appointed light-touch provisional liquidators over an oil and gas company finding its intention to restructure was there, despite its “precarious” negotiations being at an early stage and creditors in Kenya trying to stall a related Mauritian administration.

01 April 2021

Saudi-owned African telecoms group seals UK plan meetings

A pan-African telecoms group that shifted its COMI from Mauritius to England in January has filed restructuring plan proceedings in London to secure new money to tide it over while it completes a sales process.

19 February 2021

Heads-Up: Khurshid Fazel at Webber Wentzel in South Africa

Featured in Heads-Up

“There's a lot of dry capital sitting there waiting to be used”. Head of Webber Wentzel’s restructuring and insolvency team Khurshid Fazel tells GRR about opportunities in the distressed M&A space in Africa, how her views on globalisation have changed, and why she thinks firms that commoditise parts of their offering are going to get an edge in the future.

05 February 2021

Quantuma sold to UK advisory firm

UK advisory firm K3 Capital has acquired corporate recovery specialist Quantuma, which has offices in the UK, Cyprus and Mauritius.

03 August 2020

MoFo advising as Air Mauritius wins UK recognition

The joint administrators of Mauritian flag carrier Air Mauritius have won UK recognition of its local insolvency proceedings, along with additional relief against creditor actions under the UK’s Insolvency Act.

22 June 2020

Administrators of Nigerian gas group complete pre-pack sale in England

Administrators from EY in London and Grant Thornton in Mauritius have completed the pre-packaged sale of Nigerian gas group Seven Energy, with a host of city firms advising.

19 November 2019

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