The Group’s current financing arrangements/ position
The Group’s current financing arrangements/ position
The Group’s present financing arrangements are that the Facility Agreement remains in place, MOL and MOSA remain liable under the Guarantee for USH’s debts under the Facility Agreement and the current amounts sums owed to BMK and Outrider across the Group are:-
BMK’s claim under the Guarantee for approximately US$13.35m;
Outrider’s claim under the Guarantee for approximately US$71.25m;
- 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
![CR-2025-001156 - [2025] EWHC 2129 (Ch)](https://backend.juristeca.com/files/emisores/logo_O3rEzCI.png)