![CR-2025-001156 - [2025] EWHC 2129 (Ch)](https://backend.juristeca.com/files/emisores/logo_O3rEzCI.png){kind=logo}
The BMK/ MOL Guarantee claim will be compromised and released in full for US$1
The BMK/ MOL Guarantee claim will be compromised and released in full for US$1;
The BMK/ MOL Intercompany Loan will be compromised in full for one ordinary share of US$1 in MOL (BMK owning all the MOL shares already in issue);
- Heading
- Introduction
- derivative of Ground 5, BMK not being an ‘in the money’ creditor such that there was no jurisdiction to ‘cram down’ Outrider’s debts ( Ground 6 ); and unfairness of the Plan ( Ground 8 )
- The witnesses
- Production Sharing Agreement
- The Oilfield
- Prior financing
- The Guarantee
- BMK’s purchase of the MOL shares
- The Group’s current financing arrangements/ position
- BMK’s claim under the MOL Intercompany Loan for approximately US$63.79m; and BMK’s claim under the MOSA Intercompany Loan for approximately US$604.33m
- Outrider/ ABI co-operation
- Mauritius proceedings
- The BMK/ MOL Guarantee claim will be compromised and released in full for US$1
- The BMK/ MOSA Guarantee claim will be released through a third-party release for US$1 The BMK/ MOSA Intercompany Loan will remain outstanding; and
- The Outrider/ MOSA Guarantee claim will be released through a third-party release for US$1; and
- Calculation of the Plan consideration
- New money
- The requirement for the new loan to be fully repaid after five years (Clause 6) MOL’s ability fully or partially to prepay the new loan (Clause 7.2)
- Non-party releases
- Deed of Subordination
- Outrider’s recent offer
- Conditions for sanction
- Principal legal authorities
- Class composition
- Conclusions