Adler decision raised again as McDermott’s six-day sanction hearing begins

Adler decision raised again as McDermott’s six-day sanction hearing begins

A hearing on US oil and gas group McDermott International’s bid to use an English restructuring plan to discharge a US$1 billion arbitral award and extend the maturities of five secured credit facilities has kicked off in London, with a dissenting creditor citing the Court of Appeal’s Adler decision last month in its objections.

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