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ASX-listed entity to redomicile to Canada
Drilling services company Boart Longyear Limited will move to British Columbia has part of its restructuring support agreement entered into with key creditors.
Jerome Doraisamy
Firms: Ashurst (Boart Longyear Limited (BLY)), Strikeman Elliot LLP (Canadian legal advisers for BLY), Robinson Bradshaw (US legal advisers for BLY).
Area: Corporate, RSSG, Tax
Value: N/A
Key players: The Ashurst team was led by partner Sarah Dulhunty. She was supported by senior associate Scott Lai, lawyers Rory McLeod, Lee-Anne Yeo, Ben Lyttle and Sarah Yang.
Ms Dulhunty was also aided by partners James Marshall, Camilla Clemente and Peter McCullough as well as lawyer Sammuel Dobbie-Smitham on the RRSG and tax considerations respectively.
Deal significance: If the scheme is implemented, Boart Canada will acquire all the ordinary shares in BLY and eligible BLY shareholders will receive the same proportionate interests in Boart Canada as they currently have in BLY, the firm said.
Boart Canada will, in addition, effectively replace BLY as the listed entity on the ASX.
Jerome Doraisamy
Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.
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