IFLR1000

Essar Steel insolvency

4/10/2018
Insolvency proceedings
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$ 8.2 billion

Announced

4/10/2018

Overview:

  • Steel manufacturer Essar Steel is undergoing an insolvency resolution process.
  • Mauritian company Numetal is undertaking a bid to acquire Essar Steel. 
  • Multinational steel manufacturer ArcelorMittal is also undertaking a joint bid with Nippon Steel for Essar Steel.

Shah Shameer Ahmed - Researcher

Jurisdiction:

India

Deal type:

Insolvency proceedings

Practice area:

Restructuring and insolvency

Industry sector:

Industrials and manufacturing

Firms:
Khaitan & Co

Party: Numetal (Bidder)

Lawyers: Aashutosh Sampat, Kumar Saurabh Singh, Rajeev Vidhani

S&R Associates

Party: ArcelorMittal (Bidder)

Lawyer: Rajat Sethi

Shardul Amarchand Mangaldas & Co

Party: Committee of Creditors (Creditors)

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