Conyers advises on Petrominerales reorganisation - December 2010

Marcello Ausenda, David W.P. Cooke, Christian R. Luthi, Kathleen Moniz • Posted 31/12/2010 • Under Deals & Cases

Conyers advised Petrominerales Ltd., Colombia's 4th largest oil producer, on its corporate reorganization with Petrobank Energy and Resources Ltd on December 31, 2010.

In the reorganisation, Petrobank shareholders received Petrobank's proportionate interest in Petrominerales. Petrominerales was a TSX listed 66% owned subsidiary of Petrobank prior to the spin-out. The reorganisation was completed by way of a plan of arrangement under the Business Corporations Act (Alberta) and a concurrent scheme of arrangement under The Companies Act 1981 (Bermuda).

Conyers lawyers Christian Luthi, Marcello Ausenda, David Cooke and Kathleen Moniz advised on the reorganisation, working with Canadian Counsel McCarthy Tétrault.