On Wednesday 29 April the Outer House of the Court of Session in Edinburgh issued an opinion sanctioning two schemes of arrangement proposed by Premier Oil Plc and Premier Oil UK Limited (together, Premier Oil) (the Schemes). The Court addressed multiple grounds of challenge and did so without hearing live evidence, despite disputes of fact between the parties.

Earlier this month, we reported to you on the bipartisan legislation introduced in the Michigan Legislature known as the Nonrecourse Mortgage Loan Act (the “Act”).  

The Act has been approved overwhelmingly by both chambers of the Michigan Legislature and will be presented to the Governor’s office for signature. It is expected that the legislation will be signed into law within the next several business days.