New Fortress Energy Mulls UK Restructuring Over Chapter 11 (1)

Wes Edens’ New Fortress Energy Inc. is considering restructuring its debt through a UK process known as a scheme of arrangement, according to people familiar with the situation.

The UK court procedure, which is typically cheaper than a US bankruptcy, could be less detrimental to contracts than a Chapter 11 filing, said the people, who asked not to be identified discussing a private matter. Still, no final decision has been made, they said.

New Fortress has liquefied natural gas operations and assets across multiple jurisdictions, including an entity based in the United Kingdom. The UK scheme would likely allow ...