International: Chapter 15 Bankruptcy Update — Broad relief may be available upon recognition without establishing COMI in the jurisdiction of the foreign proceeding

In brief

Filed under:
Global, USA, Insolvency & Restructuring, Litigation, Baker McKenzie
Authors:
Mark D. Bloom , Emmanuel Hadjidakis , Emmanuel Chua
Location:
Global, USA
Firm:
Baker McKenzie
Texas Oil & Gas Operators Face Partner Co-Tenancy Risk

The oil and gas industry in Texas is currently facing a double whammy from the recent oil price shock and COVID-19 related demand reductions. While exploration and production operators in Texas are proactively taking self-help measures to reinforce their financial frameworks — reducing capital spending, operating expenses, overhead and dividends — the outlook remains highly uncertain.

Filed under:
USA, Texas, Company & Commercial, Energy & Natural Resources, Insolvency & Restructuring, Baker McKenzie, Bankruptcy, Joint venture, Title 11 of the US Code
Authors:
Denmon Sigler , Mark D. Bloom , Andrew Ketner , Bryan Uelk , Scott Shelton
Location:
USA
Firm:
Baker McKenzie
International: Chapter 15 Bankruptcy Update — Broad relief may be available upon recognition without establishing COMI in the jurisdiction of the foreign proceeding

In brief

Filed under:
Global, USA, Insolvency & Restructuring, Litigation, Baker McKenzie
Authors:
Mark D. Bloom , Emmanuel Hadjidakis , Emmanuel Chua
Location:
Global, USA
Firm:
Baker McKenzie
Texas Oil & Gas Operators Face Partner Co-Tenancy Risk

The oil and gas industry in Texas is currently facing a double whammy from the recent oil price shock and COVID-19 related demand reductions. While exploration and production operators in Texas are proactively taking self-help measures to reinforce their financial frameworks — reducing capital spending, operating expenses, overhead and dividends — the outlook remains highly uncertain.

Filed under:
USA, Texas, Company & Commercial, Energy & Natural Resources, Insolvency & Restructuring, Baker McKenzie, Bankruptcy, Joint venture, Title 11 of the US Code
Authors:
Mark D. Bloom
Location:
USA
Firm:
Baker McKenzie