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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