Oleo e Gas (OGX) Minority Bondholder Group Holds More Than USD 300m Face Value

Overview


Timothy Walsh, speaking of McDermott’s efforts to help organize a group of minority bondholders who have criticized a Brazilian oil and gas company’s reorganization plan, said “it is highly likely we will file an objection to the plan.” Mr. Walsh added that the minority holders want debtor-in-possession financing open to all creditors, and “based on feedback, it sounds as though investors have clear interest in financing both levels of the DIP.”