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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
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
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
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
“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
UK advisory firm K3 Capital has acquired corporate recovery specialist Quantuma, which has offices in the UK, Cyprus and Mauritius.
03 August 2020
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 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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