OGX Creditors Approve Plan; Minority Bondholders to Appeal


Timothy Walsh said that minority bondholders he represents in opposing the reorganization plan for bankrupt Brazilian energy company OGX “plan to appeal and … may move for a preliminary injunction enjoining the plan from going forward.” Mr. Walsh added that he and his clients “are hopeful that we will get consideration on the appellate level. We’re hopeful that smarter minds will prevail. We hope to reach an agreement with the majority bondholders of OGX but will press forward with the appeal and objections to the plan if we don’t.”