Oil’s Well That Ends in Court: Panel Lets Twinza’s Creditors’ Scheme Flow

Carl Della-Bosca of Ashurst reports that the Takeovers Panel declined to intervene in Twinza Oil’s proposed creditors’ scheme of arrangement under which secured lenders would take 85% control, holding that the Court was the proper forum since Twinza is in receivership and an independent expert found no residual equity value.

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