Dentons and Herbert Smith lead on rescue of inflight technology firm
Denton Wilde Sapte and Herbert Smith have advised on the rescue of inflight mobile technology company AeroMobile after five weeks in administration. AeroMobile went into administration at the end of December, with Dentons instructed in the lead role for administrator BDO.
February 10, 2010 at 06:33 AM
2 minute read
Denton Wilde Sapte and Herbert Smith have advised on the rescue of inflight mobile technology company AeroMobile after five weeks in administration.
AeroMobile went into administration at the end of December, with Dentons instructed in the lead role for administrator BDO.
The firm fielded a team led by City restructuring and insolvency partner Neil Griffiths which included employment partner Richard Nicolle and lawyers from Dentons' Dubai and Singapore offices, including Dubai-based corporate partner Stephen McGlennan.
BDO is a long-term client of the UK law firm, with Griffiths one of two relationship partners alongside London-based corporate restructuring partner Richard Cook.
Herbert Smith picked up a role advising Norwegian telecoms group Telenor, which has rescued the company from administration. Telenor has been the majority shareholder in AeroMobile for several years and will now run it as a wholly-owned subsidiary.
City restructuring and insolvency partner Laurence Elliott led the team for Herbert Smith, assisted by global head of technology, media and telecommunications, Nick Elverston, who is the firm's Telenor relationship partner.
Griffiths said: "This was a good news deal which saw the company saved and the employees keeping their jobs. It is also a vote of confidence in the aviation high-tech telecoms sector, which had taken quite a hit in the economic downturn."
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