Finance

UK's Petrofac says court upholds appeal against restructuring plan

Published by Global Banking & Finance Review

Posted on July 1, 2025

1 min read

· Last updated: January 23, 2026

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(Reuters) -Britain's Petrofac on Tuesday said a UK court upheld an appeal brought by some of the oilfield services provider's creditors against the approval of a restructuring plan that would unlock $

UK Court Supports Creditors' Appeal Against Petrofac's Restructuring Plan

(Reuters) -Britain's Petrofac on Tuesday said a UK court upheld an appeal brought by some of the oilfield services provider's creditors against the approval of a restructuring plan that would unlock $355 million in new funding.

The company is studying the judgment and will discuss next steps with stakeholders, it said in a statement.

(Reporting by Raechel Thankam Job in Bengaluru; Editing by Leroy Leo)

Key Takeaways

  • UK court supports creditors' appeal against Petrofac's plan.
  • Restructuring plan involved $355 million in new funding.
  • Petrofac to discuss next steps with stakeholders.
  • Judgment affects oilfield services provider's strategy.
  • Company analyzing the court's decision.

Frequently Asked Questions

What did the UK court decide regarding Petrofac's restructuring plan?
The UK court upheld an appeal by some of Petrofac's creditors against the approval of the restructuring plan.
What is Petrofac's next step following the court's decision?
Petrofac is studying the judgment and will discuss the next steps with its stakeholders.
Who reported on the Petrofac court ruling?
The article was reported by Raechel Thankam Job in Bengaluru, with editing by Leroy Leo.

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