Unitech Group drags Telenor to company Law board for gross mismanagement
The Unitech Group plans to drag global communications major Telenor to the Company Law Board citing 'gross mismanagement' of their joint venture mobile phone operations by the Norwegian telco, an executive with direct knowledge of the development told ET. Unitech also plans to ask the CLB to send an observer to all board meetings of the JV company to 'ensure that its interests are protected', this executive added.
Leïla M. Röder Partner, Munich + 49 89 206043 775 lroeder@whitecase.com Dr. Tom Oliver Schorling Partner, Franfurt + 49 69 29994 1569 tschorling@whitecase.com Dr. Sven-Holger Undritz Partner, Hamburg + 49 40 35005 212 shundritz@whitecase.com Stephen Phillips Partner, London + 44 20 7532 1221 sphillips@whitecase.com2The new German laws governing the restructuring of companies a committee which will be able to influence the court in its selection of the preliminary administrator and whether the debtor can obtain debtor in possession status.