Attachment Notification

This document pretains to ITC-ASG-20191004-00162 for Assignment on a International Telecommunications filing.

IBFS_ITCASG2019100400162_1941245

October 4, 2019


BY ELECTRONIC FILING


Ms. Marlene H. Dortch
Secretary
Federal Communications Commission
445 12th Street, S.W.
Washington, D.C. 20554

       Re:     Pro Forma Assignment of Domestic Section 214 Authorization and International
               Section 214 Authorization, File No. ITC-214-20070703-00262, in Connection
               with Chapter 11 Filings Under the U.S. Bankruptcy Code

Dear Ms. Dortch:

        Pursuant to 47 U.S.C. § 214 and 47 C.F.R. §§ 63.03(d)(2) and 63.24(g), the undersigned
hereby notify the Commission of the pro forma assignment of the domestic and international
Section 214 authorizations held by Vanco US, LLC, a Delaware limited liability company (FRN
0020057881), from Vanco US, LLC (“Vanco US”) to Vanco US, LLC, Debtor-in-Possession
(“Vanco US DIP”) (FRN 0028867695) (“Assignment”) in connection with the pending
bankruptcy of Vanco DIP and its affiliates and of other pro forma transactions discovered in
preparation for that bankruptcy. Vanco US DIP is a provider of domestic and international
private line services, with authorization to provide global or limited global facilities-based and
resale service.

        Vanco US and certain of Vanco US affiliates filed for bankruptcy protection under
chapter 11 and, concurrently therewith, filed that certain Joint Prepackaged Chapter 11 Plan of
GCX Limited as Debtor and Its Debtor Affiliates in the United States Bankruptcy Court for the
District of Delaware on September 15, 2019 (the “Plan”). During the pendency of the Chapter
11 proceeding, Mr. Michael Katzenstein, Vanco US DIP’s Chief Restructuring Officer will
oversee Vanco US DIP's management and operations.1 Mr. Katzenstein has extensive
experience in restructuring in the telecommunications sector. Under the Plan, on emergence

1
    Vanco US’s indirect parent, GCX Limited, appointed Mr. Katzenstein as Chief Restructuring
    Officer, and he serves in that same role for GCX Limited’s subsidiaries.


Ms. Marlene H. Dortch
Federal Communications Commission
October 4, 2019
Page 2


from bankruptcy, certain GCX Limited creditors and/or other equity purchasers will own the
successor entity to GCX Limited, debtor-in-possession (“GCX Limited DIP”), and indirectly, the
successor entity to Vanco US DIP—rather than Reliance Communications Limited (“RCOM”)
(the current ultimate parent of Vanco US DIP and GCX Limited DIP) and its largest shareholder,
Mr. Anil Ambani. Vanco US DIP’s emergence from bankruptcy will be conditioned upon
receipt of prior regulatory approvals and clearances, including consent for a substantive
assignment of Vanco DIP’s Section 214 authorizations. Vanco US DIP and those parties
proposed to receive equity and voting interests in the reorganized GCX Limited DIP will file an
application seeking Commission consent for that transaction in the very near future.

         RCOM itself (which holds a 100-percent indirect interest in Vanco US) is engaged in
parallel insolvency proceedings in India pursuant to India’s Insolvency and Bankruptcy Code,
2016 before the Honorable National Company Law Tribunal, Mumbai Bench, Mumbai
(“Tribunal”). On April 30, 2019, the National Company Law Appellate Tribunal (“Appellate
Tribunal”) lifted a stay imposed by the Tribunal, which resulted in the suspension of the powers
of the RCOM board of directors and the appointment of an Interim Resolution Professional
(“IRP”), Mr. Pardeep Kumar Sethi.2 On June 21, 2019, the Tribunal replaced the IRP with the
current Resolution Professional, Mr. Anish Nanatavy. Mr. Nanatavy now manages RCOM’s
affairs, business, and assets during the pendency of the Indian insolvency proceeding.

         During the course of the Indian insolvency proceeding to date, Mr. Ambani’s equity
interest in RCOM was reduced as creditors invoked pledged shares held by Mr. Ambani,
resulting in the following changes:

       1. The voting-and-economic interest of ADA Enterprises and Ventures Private Limited
          (now Reliance Ornatus Enterprises and Ventures Private Limited) in RCOM was
          reduced from 12.49 percent to 3.33 percent;

       2. The voting-and-economic interest of AAA Industries Private Limited (now Reliance
          Wind Turbine Installators Industries Private Limited) in RCOM was reduced from
          12.49 percent to 0.31 percent;




2
    On May 15, 2018, a third party initiated an involuntary insolvency proceeding against
    RCOM, which was stayed by the Tribunal until the Appellate Tribunal’s April 30, 2019
    order.


Ms. Marlene H. Dortch
Federal Communications Commission
October 4, 2019
Page 3



       3. The voting-and-economic interest of AAA Communications Private Limited (now
          Reliance Communications Enterprises Limited) in RCOM was reduced from 30.10
          percent to 13.22 percent;

       4. The direct voting-and-economic interest of Reliance Innoventures Private Limited
          was reduced from 0-.52 percent to 0.45 percent; and

       5. Mr. Ambani’s direct voting-and-economic interest in RCOM was reduced from 0.08
          percent to 0.07 percent.

      In addition, Reliance Telecom Infrainvest Pvt Ltd (100-percent owned by Reliance
Innoventures Private Limited) acquired a 3.13percent voting-and-economic interest in RCOM.

        As a result of the actions described above, aggregate public shareholdings in RCOM
increased from 44.13 percent to 79.20 percent, thereby diluting the aggregate voting-and-
economic interest held by Mr. Anil Ambani from 55.68 percent to 20.51 percent. Mr. Ambani,
however, remains RCOM’s largest shareholder and, until the powers of the RCOM board of
directors were suspended by the Tribunal in the Indian insolvency proceeding, retained de facto
control, exercised through his role as the promoter of RCOM (as such term is defined under the
Securities and Exchange Board of India regulations 2011) and as chairman of the RCOM board
of directors, pursuant to Article 93 of RCOM’s Articles of Association.

        Please see Attachment 1 for the additional information required pursuant to 47 C.F.R. §
63.18(h), and Attachment 1, Exhibits A and B for diagrams illustrating the changes in
shareholdings and the pro forma transaction described above.3 Exhibit A illustrates Vanco US’s
ownership structure as last reported to the Commission on August 16, 2014. Exhibit B illustrates
Vanco US’s ownership immediately after the chapter 11 filing. As Exhibits A and B show, the
changes in shareholdings and the pro forma transaction had no effect on RCOM’s 100-percent
indirect interest in Vanco US.




3
    As indicated on Exhibits A and B, several of Vanco US DIP’s affiliates also hold
    Commission authorizations. Each of these authorization holders—Reliance Globalcom
    Limited, Reliance Globalcom Services, Inc., Vanco Solutions, Inc., and Reliance
    Communications, Inc.—are filing separate pro forma notifications.


Ms. Marlene H. Dortch
Federal Communications Commission
October 4, 2019
Page 4


        As required by 47 C.F.R. §§ 63.03(d) and 63.24(g) (as defined in 47 C.F.R.
§ 63.24(f)(2)(ii)), Vanco US certifies in the attached certification that this Assignment is pro
forma in nature and would not, when considered together with all previous pro forma
transactions, result in a change of ultimate control of Vanco US.


                                              Respectfully submitted,



                                              Kent Bressie
                                              Colleen Sechrest
                                              Counsel to Vanco US, LLC, Debtor-in-Possession

Attachments

cc:    Denise Coca
       David Krech


                                        CERTIFICATION

       I, Michael Katzenstein, as Chief Restructuring Officer of GCX Limited and its
subsidiaries, hereby certify as follows:

       1.      I have reviewed the attached pro forma assignment notification and believe that it
               states fully and accurately the circumstances of the pro forma assignments of the
               domestic and international Section 214 authority held by Vanco US, LLC
               (“Vanco US”), an indirect subsidiary of GCX Limited.

       2.      The transactions described therein are pro forma in nature under the
               Commission’s rules and, together with all previous pro forma transactions, would
               not result in a change in the ultimate control of debtor Vanco US.

I certify under penalty of perjury that the foregoing is true and correct.




                                               Michael Katzenstein
                                               Chief Restructuring Officer
                                               Vanco US, LLC
                                               c/o FTI Consulting, Inc.
                                               Three Times Square, 9th floor
                                               New York, New York 10036
                                               +1 212 247 1010


Executed October [ 3 ], 2019


                                      ATTACHMENT 1


Answer to Question 10

       Pursuant to 47 C.F.R. § 63.18(c)-(d), Vanco US DIP’s contact information is as follows:

                      Mr. Michael Katzenstein
                      Chief Restructuring Officer
                      Vanco US, LLC
                      c/o FTI Consulting, Inc.
                      Three Times Square, 9th floor
                      New York, New York 10036
                      +1 212 247 1010

        Correspondence concerning this filing should be sent to Mr. Katzenstein at the address
listed above, with a copy to:

                      Kent Bressie
                      Colleen Sechrest
                      Harris, Wiltshire & Grannis LLP
                      1919 M Street, N.W., Suite 800
                      Washington, D.C. 20036
                      +1 202 730 1308
                      csechrest@hwglaw.com

       Vanco US DIP is authorized to provide global or limited global facilities-based and resale
services.

Answer to Question 11

        Pursuant to 47 C.F.R. § 63.18(h), the name, address, place of organization, principal
business, and ownership percentage of each person or entity with a 10-percent or greater voting
or equity interest in Vanco US DIP are as follows:

       VNO Direct Limited
       Address: World Business Centre 2, Newall Road, London Heathrow Airport, Middlesex,
         TW6 2SF, United Kingdom
       Place of Organization: United Kingdom
       Principal Business: holding company
       Relationship: 100-percent voting-and-economic interest in Vanco US, LLC


Reliance Vanco Group Limited
Address: World Business Centre 2, Newall Road, London Heathrow Airport, Middlesex,
   TW6 2SF, United Kingdom
Place of Organization: United Kingdom
Principal Business: holding company
Relationship: 100-percent voting-and-economic interest in VNO Direct Limited

FLAG Telecom Group Services Limited
Address: Cumberland House, 9th Floor, 1 Victoria Street, Hamilton HM 11, Bermuda
Place of Organization: Bermuda
Principal Business: holding company
Relationship: 100-percent voting-and-economic interest in Reliance Vanco Group
   Limited.

GCX Limited
Address: Cumberland House, 9th Floor, 1 Victoria Street, Hamilton HM 11, Bermuda
Place of Organization: Bermuda
Principal Business: holding company
Relationship: 100-percent voting-and-economic interest in FLAG Telecom Group
   Services Limited

Global Cloud Xchange Limited (“Global Cloud Xchange”)
Address: Suite 3901-2, 39F, Lippo Centre, Tower Two 89 Queensway, Hong Kong
Place of Organization: Bermuda
Principal Business: holdings strategic investments
Relationship: 100-percent voting-and-economic interest in GCX Limited

Reliance Globalcom BV
Address: Claudedebussylaan 18, 1082, Netherlands
Place of Organization: Netherlands
Principal Business: holding company
Relationship: 100-percent voting-and-economic interest in Global Cloud Xchange

Reliance Communications Infrastructure Limited
Address: H Block, 1st Floor, Dhirubhai Ambani Knowledge City Navi Mumbai – 400
   710, Maharashtra, India
Place of Organization: India
Principal Business: telecommunications
Relationship: 10.76-percent voting-and-economic interest in Reliance Globalcom BV

Reliance Communications Limited
Address: H Block, 1st Floor, Dhirubhai Ambani Knowledge City Navi Mumbai – 400
   710, Maharashtra, India
Place of Organization: India
Principal Business: telecommunications
Relationship: 100-percent voting and economic interest in Reliance Communications



                                     2


          Infrastructure Limited, and an 89.24-percent voting-and-economic interest in
          Reliance Globalcom BV

       Reliance Communications Enterprises Private Limited (formerly AAA
       Communications Private Limited)
       Address: 502, Plot No. 91/94, Prabhat Colony, Santacruz (East), Mumbai – 400 055,
          Maharashtra, India
       Place of Organization: India
       Principal Business: holding company
       Relationship: 13.22-percent voting-and-economic interest in Reliance Communications
          Limited

       Reliance Innoventures Private Limited
       Address: 502, Plot No. 91/94, Prabhat Colony, Santacruz (East), Mumbai – 400 055,
          Maharashtra, India
       Place of Organization: India
       Principal Business: holding company
       Relationship: 100-percent voting-and-economic interest in Reliance Communications
          Enterprises Private Limited

       Anil Ambani
       Address: 19, Walchand Hirachand Marg, Mumbai, India 40038
       Citizenship: India
       Principal Business: industrialist
       Relationship: 20.51-percent direct and indirect voting and economic interest in Reliance
           Communications Limited. Mr. Ambani’s indirect interests are held through Reliance
           Innoventures Private Limited, Reliance Telecom Infrainvest Pvt Ltd (formerly
           Telecom Infrastrucutre Private Finance Ltd), AAA Businses Machines Private Ltd.,
           Reliance Wind Turbine Installators Industries Private Limited (formerly AAA
           Industries Private Limited), and Reliance Ornatus Enterprises and Ventures Private
           Limited (formerly ADA Enterprises and Ventures Private Limited)

Please see Exhibits A and B for diagrams illustrating Vanco US’s ownership structure before and
after the subject pro forma assignment.




                                               3


Answer to Question 12

        Pursuant to 47 C.F.R. § 63.18(h), Vanco US DIP has the following interlocking
directorates:

       Name: Janet Troxell

      Entities: Reliance FLAG Atlantic France, FLAG Telecom Hellas AE, Vanco Sweden
AB, Vanco Japan KK, Vanco Deutschland GmbH, Vanco BV, Vanco SAS, Vanco Srl, Vanco
UK Limited, and Vanco GmbH

       Name: Andrew Goldie

       Entities: FLAG Telecom Deutschland GmbH, FLAG Telecom Nederland B.V., FLAG
Telecom España Network SAU, Reliance FLAG Telecom Ireland DAC, FLAG Telecom Hellas
A.E., FLAG Atlantic UK Limited, Vanco SP z.o.o., Vanco Sweden AB, Vanco Japan KK,
Vanco Deutschland GmbH, Vanco BV, Vanco SAS, Vanco UK Limited, Vanco ROW Ltd.,
Euronet Spain SA, Vanco International Limited, Vanco Srl, Vanco Global Limited, Vanco
Switzerland AG, Vanco (Asia Pacific) Pte Ltd, Vanco GmbH, Vanco Australasia Pty Limited,
Reliance FLAG, and Telecom Ireland DAC

Answer to Question 13

        Please see main narrative for a description of the pro forma assignment that is the subject
of this notification.




                                                 4


                                                                                          Exhibit A
      Stated interests are voting and economic
                                                                         Reliance Corporate Structure as July 17, 2014
      FCC licensees are identified in blue; their ultimate
      Corporate parent, RCOM, is identified in red
                                                                AAA Telecom Holdings                         Anil Ambani (INDIA)                       Kokilaben Ambani (INDIA)
                                                               Private Limited (CYPRUS)
10%
                                                                                                                            67%                       33%
                     AAA
                                                         100%
              Business Machines                                                                                     Reliance Innoventures
              Private Ltd. (INDIA)                                                                                  Private Limited (INDIA)
                                                90%                         10%
                                                                                                                              100%
                           90%                                   ADA Enterprises and
         AAA Industries Private                                         Ventures                                  AAA Communications
            Limited (INDIA)                                      Private Limited (INDIA)                            Private Limited
                                                                                                                        (INDIA)

                                                               12.49%       12.49%                   0.08%                     30.10%         0.52%   0.19%
                                                                                                                                                               100%           Reliance
                                          44.13%                                           Reliance Communications Limited
                       Public                                                                                                                                            Communications
                                                                                                       (INDIA)                                                         Infrastructure Limited
                                                                                                                                                                               (INDIA)

                                                                               0.004%                                                                                 89.24%          10.76%
                                                             0.031%
       Lagerwood Investments Limited
                                                                                 Reliance                99.665%                                        100%
                 (CYPRUS)
                                                                             Globalcom Limited
                                                                                (BERMUDA)                           Global Cloud Xchange Limited                           Reliance
                                                                                                                             (BERMUDA)                                   Globalcom BV
       Reliance Vanco Group Limited                           100%
            (UNITED KINGDOM)                                                                                                                                            (NETHERLANDS)
                                                                            FLAG Telecom Group
                                                                              Services Limited                                       100%
100%                                                                            (BERMUDA)
                         VNO Direct Limited                                                                                                                                         100%
                        (UNITED KINGDOM)
                                                                                                                             GCX Limited
                                                                                            100%        100%                                                      Reliance Infocom, Inc.
                                                              100%                                                           (BERMUDA)
                                                                                                                                                                       (DELAWARE)
                                                                             YIPES Holdings, Inc.
100%                    Vanco Solutions, Inc.                                 (DELAWARE, USA)
                                                                                                                                                                                   100%
                         (DELAWARE, USA)
                                                                                             100%                                                             Reliance Communications, Inc.
                                                                                                                                                                       (DELAWARE)
                           Vanco US LLC                                 Reliance Globalcom Services Inc.
                           (DELAWARE)                                             (DELAWARE)


      Stated interests are voting and economic                                              Exhibit B
      FCC licensees are identified in blue; their ultimate
                                                                      Reliance Corporate Structure after September 15, 2019
      Corporate parent, RCOM, is identified in red
      Dashed lines indicate interests preempted by
      insolvency proceedings                                          AAA Telecom Holdings                            Anil Ambani (INDIA)                                   Kokilaben Ambani (INDIA)
                                                                     Private Limited (CYPRUS)
10%
                                                                                                                                           67%
                                                                                                                                                                         33%
                       AAA                                                                                                                                                         Reliance Telecom
                                                             100%                                                                                                         100%
               Business Machines                                                                                                   Reliance Innoventures                           Infrainvest Pvt Ltd (formerly
               Private Ltd.) (INDIA)                                                                                               Private Limited (INDIA)                         Telecom Infrastructure
                                                 90%                             10%                                                                                               Private Finance Ltd) (INDIA)
                                                                Reliance Ornatus Enterprises and                                             100%
                            90%
                                                                Ventures Private Limited (formerly            0.07%             Reliance Communications
        Reliance Wind Turbine Installators                            ADA Enterprises and                                       Enterprises Private Limited
       Industries Private Limited (formerly                                 Ventures                                         (formerly AAA Communications
              AAA Industries Private                                 Private Limited) (INDIA)                                        Private Limited)               0.45% 3.13%   0.18%
                  Limited) (INDIA)                                                                                                        (INDIA)
                                                             0.31%               3.33%
                                                                                                                                           13.22%

                                              79.20%                                                 Reliance Communications Limited                                              100%              Reliance
                        PUBLIC                                                                                    (INDIA)                                                                      Communications
                                                                                                  (Anil Nanavaty, Resolution Professional)                                                   Infrastructure Limited
                                                                                                                                                                                                     (INDIA)
                                                                                    0 .004%

                                                                                          Reliance                    99.665%                                                                                10.76%
                                                                                                                                                                                         89.24%
                                                                                   Globalcom Limited (DIP)                           Global Cloud Xchange Limited
                                                                                         (BERMUDA)                                            (BERMUDA)                    100%
              Reliance Vanco Group Limited (DIP)
                      (UNITED KINGDOM)                          100%
                                                                                     FLAG Telecom Group                                                                                          Reliance
                                                                                     Services Limited (DIP)                                                                                    Globalcom BV
                                                                                                                                                      100%                                    (NETHERLANDS)
 100%                                                                                     (BERMUDA)                   100%
                           VNO Direct Limited (DIP)
                             (UNITED KINGDOM)
                                                                                                   100%                                    GCX Limited (DIP)
                                                                100%                                                                         (BERMUDA)
                                                                                                                                                                                                          100%
                                                                                       YIPES Holdings, Inc.
 100%                        Vanco Solutions, Inc.                                      (DELAWARE, USA)                                                                               Reliance Infocom, Inc.
                              (DELAWARE, USA)                                                                                                                                              (DELAWARE)
                                                                                                   100%

                                                                                                                                                                                                          100%
                            Vanco US LLC (DIP)                                 Reliance Globalcom Services Inc.
                              (DELAWARE)                                                 (DELAWARE)                                                                               Reliance Communications, Inc.
                                                                                                                                                                                           (DELAWARE)



Document Created: 2019-10-09 23:50:13
Document Modified: 2019-10-09 23:50:13

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