Mike Stenglein, partner. (Courtesy photo: King & Spalding) $900M Judgment: King & Spalding's Big Win for Unsecured Creditor
The parties have been in litigation for nearly a decade.
March 25, 2024 at 05:06 PM
5 minute read
The original version of this story was published on Texas Lawyer
What You Need to Know
- A bankruptcy court in Houston recognized parallel United Kingdom and Dutch restructuring plans for McDermott International.
- The plans include payments of nearly $900 million to a Colombian oil refinery company.
- The Colombian company was an unsecured creditor opposing a plan that would have erased its $1.3 billion arbitration award against a McDermott subsidiary.
U.S. Bankruptcy Judge Christopher Lopez of the Southern District of Texas entered three orders to complete a nearly $900 million payment for a Colombian company in the McDermott International Ltd. bankruptcy.
Attorneys with King & Spalding represent Refinería de Cartagena S.A.S., or Reficar, a Colombian fossil fuels refinery that is part of the Ecopetrol Group.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Topping Kirkland, Weil Won the Most Valuable Major Bankruptcy Retentions of 2024
Beyond Bordeaux’s Bankruptcy: A Lesson In Adapting to the Evolving Sports Media Landscape
6 minute read
US Judge Throws Out Sale of Infowars to The Onion. But That's Not the End of the Road for Sandy Hook Families
4 minute read
Cleary vs. White & Case: NY Showdown Over $5 Billion Brazilian Bankruptcy
Law Firms Mentioned
Trending Stories
- 1Smith, Gambrell & Russell Expands to Italy With Cross-Border Transactional Attorneys
- 2CFPB Proposes Rule to Regulate Data Brokers Selling Sensitive Information
- 3Arizona Board Gives Thumbs Up to KPMG's Bid To Deliver Legal Services
- 4Matt's Corner: Legal Malpractice as It Relates to Ethical Violations
- 5Statute of Limitations Shrivels $5M Jury Award to Less than $1M, 8th Circuit Rules
