Mr Justice Green’s judgment sanctioning McDermott International’s UK Restructuring Plan, though “shorter and less detailed” than the judge would have liked, provides plenty of colour on the Texas-based energy services firm’s fraught negotiations with Colombian petroleum refinery Refineria de Cartagena (Reficar).

Given the novelty of the plan, and the number of contesting stakeholder groups, one would perhaps have assumed there would be a longer and more juicy judgment. That said, the decision does contain further guidance (following the much-covered Adler judgment) on the issues an out of the money dissenting creditor faces in seeking to challenge a plan on the grounds of fairness.