... Ericsson’s lawyers will deserve a glowing mention. For an unsecured creditor to walk away with a 48 percent recovery of its claim – while secured lenders wait patiently for RCom to sell its spectrum, redevelop its land assets and pay them something – shows that the Swedish firm played its cards well.
It also shows the secured creditors, led by State Bank of India, in a rather poor light. They have been deluding themselves since June 2017, when they agreed to an out-of-court restructuring, including a plan to convert part of their debt into equity at almost 25 rupees a share.
Read more at https://www.business-standard.com/article/companies/ericsson-teaches-anil-ambani-and-india-s-nascent-bankruptcy-system-a-lesson-119031900331_1.html
It also shows the secured creditors, led by State Bank of India, in a rather poor light. They have been deluding themselves since June 2017, when they agreed to an out-of-court restructuring, including a plan to convert part of their debt into equity at almost 25 rupees a share.
Read more at https://www.business-standard.com/article/companies/ericsson-teaches-anil-ambani-and-india-s-nascent-bankruptcy-system-a-lesson-119031900331_1.html
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