-
Court rules against Petrofac restructuring plans
04 Jul 2025 12:57 GMT
An appeal by Saipem and Samsung E&A has been upheld
Become a MEED subscriber for unlimited access to:
Exclusive news, comment and analysis on the MENA region
An unrivalled 20-year old archive
Exclusive announcements on project news, bids, awards and …
-
Petrofac problems could impact Middle East projects
04 Jul 2025 12:58 GMT
The company has clashed with Saipem and Samsung E&A over restructuring plans
Become a MEED subscriber for unlimited access to:
Exclusive news, comment and analysis on the MENA region
An unrivalled 20-year old archive
Exclusive announcements on project …
-
Court of Appeal overturns Petrofac restructuring plans over unfair value allocation
02 Jul 2025 13:28 GMT
… two restructuring plans for Petrofac and Petrofac Facilities Management under Part … to release unsecured claims against Petrofac Facilities Management Ltd (PFML), … and Samsung (appellants) v Petrofac and Petrofac International (respondents), the appellants …
-
Mark Warburton makes astonishing Rangers claims over 55 banner, Petrofac Cup and 'shoddy' exit
18 Jun 2025 11:40 GMT
… before. We’d won the Petrofac Cup, we’d won the …
-
Case Comment: Petrofac Restructuring Plans
09 Jun 2025 20:31 GMT
… simplified) level, two Petrofac entities each proposed an … alternative (on which basis Petrofac asserted that they were … capacity as competitors of Petrofac, of an insolvent liquidation … Samsung and Saipem argued that Petrofac, when devising the restructuring …
-
Petrofac Gets Court Approval for Restructuring but Faces Appeal
22 May 2025 11:07 GMT
… materially strengthening its financial position”, Petrofac said.
In its latest results … and adverse operating leverage”.
Petrofac has deferred the publication of … extended a forbearance agreement with Petrofac, withholding themselves from pursuing their …
-
Petrofac receives approval for restructuring
22 May 2025 08:12 GMT
… , for the same reason.
Despite Petrofac struggling with significant financial difficulties … strengthening its financial position."
Petrofac’s chairman, Rene Medori, said … binding agreement with its creditors.
Petrofac has been struggling with financial …
-
Oil Services Must Take on More Risk, Petrofac CEO Warns
22 May 2025 07:44 GMT
… executive of FTSE 100 contractor Petrofac (POFCF) said.
The … necessarily been comfortable for Petrofac, which saw its share … usually a regular feature of Petrofac earnings statements, was noticeably … ," Weller said.
Petrofac warned last November it …
-
Bribery Probe Slows Petrofac Sales
21 May 2025 23:04 GMT
… in Saudi Arabia and Iraq.
Petrofac, which designs, builds and … charges have been brought against Petrofac (POFCF) or any other … said it would temporarily suspend Petrofac from new bids.
Cochran … oil ministry decision to freeze Petrofac from bidding on new …
-
High Court approves Petrofac restructuring plan
20 May 2025 15:11 GMT
… England and Wales has approved Petrofac’s restructuring plan, the … majority of creditor classes,” Petrofac said.
The plan will … strengthening its financial position, Petrofac said.
The company said it … full news story on Petrofac’s website here
Share …