Minority Bondholders Organize to Oppose DIP Financing Terms in OGP Agreement with Creditors


McDermott was described as helping organize a group of U.S. and London-based distressed debt funds opposing the terms of the DIP financing for a Brazilian oil and gas producer that is emerging from reorganization. McDermott held a conference call for the dissenting minority bondholder group, to discuss the specifics of the DIP financing included in the December 25 reorganization agreement.