Sarah Jane O'Leary
Sarah Jane O’Leary is a senior associate in the restructuring and insolvency finance team in Clifford Chance in London, with experience in cross‑border restructuring and insolvency transactions.
Sarah Jane spent a year and a half on secondment to the Hong Kong office.
Practice Area
Panel
- Contributing Author
Qualified Year
- 2015
Membership
- Insolvency Lawyers Association
- R3
Qualifications
- BCL (2012)
- Legal Practice Course (2013)
Education
- University College Cork (2012)
1 Contributions by Sarah Jane O'Leary
PRACTICE NOTES
Premier Oil/Chrysaor reverse takeover: Scottish Part 26A plans, creditor mechanics, shareholder voting/CCCD issues, Hurricane Energy lessons, and FCA Listing Rules/Takeover Code constraints
This Practice Note has been archived and is no longer maintained.
Background
Premier Oil plc (now Harbour Energy plc) (‘Premier’) is a Scottish-incorporated company listed on the London Stock Exchange (LSE). It operates as an oil and gas exploration and production business with assets across the UK, Indonesia, Vietnam, the Falkland Islands, Mexico and Brazil. Following Premier’s reverse takeover of Chrysaor Holdings Limited (‘Chrysaor’) on 31 March 2021, Harbour Energy plc became the largest independent oil and gas company listed in the UK.
Premier is well known within the restructuring community, having first restructured in 2017 and later attracting significant media attention when its 2020 attempt to restructure its liabilities did not succeed. Both the 2017 and 2020 debt reorganisations relied on Scottish schemes of arrangement under Part 26 of the Companies Act 2006 (CA 2006). In 2020, the proposed restructuring faced an unusual creditor challenge during the process, which led to the Scottish Court sanctioning the scheme and that decision then being appealed by the same creditor, who also held a material short position in Premier’s shares. Although that challenge ultimately failed and a settlement was reached with the dissenting...
Restructuring & Insolvency
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