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Africa’s Smile Telecoms Holdings has had its UK restructuring plan sanctioned after a judge found it had fixed “the last piece of the jigsaw”: a third party whose exercise of a put option had given it the discretion on whether the plan came into effect.
30 March 2021
UPDATED: A pan-African telecoms group’s UK restructuring plan sanction hearing has been adjourned, after a court found that the sole dissenting creditor had the discretion on whether the plan would come into effect.
19 March 2021
A few months after taking over as Piper Sandler’s global head of restructuring, veteran Wall Street banker Todd Snyder speaks to GRR about a potential boom in infrastructure investment, why sub-Saharan Africa is a likely place for new investment activity and his “almost religious” belief in the importance of restructuring to the good functioning of the free market.
15 March 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
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
Joint administrators have been appointed over African cement maker ARM Cement after Nigeria-headquartered UBA Bank led a charge of the company’s commercial lenders seeking to recover over Sh14.4 billion (US$140 million).
20 August 2018
The Nigerian Senate held a public hearing on Monday to discuss the repeal and re-enactment of Nigeria’s “outdated” bankruptcy laws, with a suggested new bill placing emphasis on attracting international investors.
16 March 2016
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