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Uganda’s tax authority has been ordered to reimburse Bank of India as a secured creditor of an insolvent bottled water supplier, after it seized and disposed of some of the company’s assets to recover unpaid taxes.
01 June 2022
African telecoms group Smile Telecoms has asked the High Court in London to sanction its second restructuring plan in a year, arguing the plan is likely to be effective in its key jurisdictions of Mauritius, Nigeria and South Africa.
10 March 2022
A senior lender to African telecoms group Smile Telecoms has raised last-minute valuation issues with the company’s restructuring plan, despite the English High Court finding it was out of the money last month.
28 February 2022
Pan-African telecoms group Smile Telecoms has won approval to convene a plan meeting for a single creditor after convincing the English High Court to employ a never-before-used tool to exclude other plan participants because they are out of the money.
12 January 2022
African telecoms business Smile Telecoms is gearing up to launch another UK restructuring plan in the new year, with Kirkland & Ellis advising in place of Latham & Watkins.
20 December 2021
The chairman of global tea producer McLeod Russel India has won an appeal hearing against a National Company Law Tribunal order that placed the company into an insolvency process earlier this month.
27 August 2021
India’s National Company Law Tribunal has accepted a creditor’s corporate insolvency resolution application against the world’s largest tea grower, after the company defaulted on a loan agreement.
09 August 2021
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 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
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