7/8/2022
START DATE
END DATE
9/2/2022
In the Matter of NewOcean Energy Holdings Limited
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
Supreme Court of Bermuda
COMMERCIAL COURT COMPANIES (WINDING UP)
Mussenden J
Kevin Taylor (Walkers Bermuda Limited)
Henry Tucker (Carey Olsen Bermuda Limited) Lalita Vaswani (Appleby for the Joint Provisional Liquidators)
FACTS OF THE CASE:
Petition for winding up due to financial issues lack of creditor interest in restructuring company's ongoing negotiations with potential investors
SUMMARY:
Whether to grant winding up order or adjourn case for potential restructuring
OUTCOMES:
Adjournment for two months to allow company to present restructuring proposals
RULED IN FAVOUR OF:
Defendant (Adjournment granted to allow for potential restructuring)
PLAINTIFF/CLAIMANT
DEFENDANT:
DURATION (DAYS):
ISSUES:
RELEVANCE:
RULING:
RULING TYPE:
CASES CITED:
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