•  •  Dark Mode

Your Interests & Preferences

I am a...

law firm lawyer
in-house company lawyer
litigation lawyer
law student
aspiring student
other

Website Look & Feel

 •  •  Dark Mode
Blog Layout

Save preferences
Subscribe for perks & to support LI

██████ hails new group general counsel: ██████ ██████ ██████ joins sprawling tech-taxi empire

141 people have already read this article, which will unlock for non-subscribers like you in . So what are you waiting for? Subscribe now!

L&L, CAM-SAM act on $2.9bn insolvency of Aircel, bought by UV Assets

Aircel’s lenders are said to have approved a proposal of takeover from UV Asset Reconstruction Company (UVARCL), ending a year-long debt resolution process that was the first of its kind in the telecom sector. While the bankrupt operator may have narrowly escaped liquidation, its financial creditors may recover 15-20% of loans they extended to Aircel, among the lowest in major insolvency cases so far.
The Economic Times

L&L Partners advised the resolution applicant UV Asset Reconstruction Company Limited led by a team partner Akshay Nagpal, associate Samarth Sharma, associate Vishakha Panchangam and associate Tanvi Verma, with partners Sameen Vyas and Apurva Jayant providing strategic inputs on the transaction from time to time. Other members of the firm also supported the team, including a competition law team comprised of partner GR Bhatia, managing associate Rudresh Singh, senior associate Arjun Singh and associate Aniket Ghosh.

Shardul Amarchand Mangaldas acted for the resolution professional.

Cyril Amarchand Mangaldas represented the committee of creditors.

2019-05-17

Deal value: approx. INR 20,000 crores (USD 2.87 billion)

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

Click to show 1 comment
at your own risk
(alt+c)
By reading the comments you agree that they are the (often anonymous) personal views and opinions of readers, which may be biased and unreliable, and for which Legally India therefore has no liability. If you believe a comment is inappropriate, please click 'Report to LI' below the comment and we will review it as soon as practicable.

Latest comments