Insolvency in the UK Oil and Gas Sector: the theory, the reality and how to limit the damage

Past Event | June.14.2016 | 8am - 10am (GMT Standard Time)

Orrick
The painful reality is that a combination of low oil and gas prices and the difficulty of securing ongoing financing is driving a number of UK offshore and onshore players towards insolvency.

Insolvency could affect you - or it could affect your co-venturer and the integrity of your joint venture.

Join us for a breakfast briefing to consider the following issues:

  • what 'insolvency' actually means and how to spot the signs
  • what the licence says and how the OGA could react when faced with an insolvency
  • the rights and the obligations under the JOA which apply in the event of an insolvency
  • the effects of an insolvency on decommissioning security
  • lenders' and creditors' risks and rights pre and post insolvency
  • directors' duties: what to do, what not to do
  • short, medium and long term practical steps to protect your position

Please contact Sydne van Loggerenberg ([email protected]) if you would like to receive the materials given for this briefing.

CLE Credits Available: N

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Practice:

  • Infrastructure
  • Energy
  • Africa
  • M&A and Private Equity

Rebecca Downes Senior Associate Infrastructure, Energy

London

Rebecca focuses on mergers and acquisitions, gas and LNG sales arrangements and project development activities within the oil and gas industry.

Rebecca has significant experience of acting for a broad range of clients including IOCs, financial institutions and project companies on a variety of domestic and international upstream and midstream oil and gas transactions. Recently, she has been advising clients with interests in Africa, South America, Central Asia and the UKCS.