Boart longyear restructuring. About Boart Longyear.

Boart longyear restructuring 2009 First Half Results . 2. BOART Longyear, the world’s largest supplier of drill rigs to the mining sector, has begun talks with specialist restructuring advisers to avoid bankruptcy as demand for equipment from global been affi liated with Boart Longyear since before its initial public offering in 2007 and has provided fi nancial statements. Frontline focus: Kirkland’s global restructuring insights; A New York bankruptcy court has granted Chapter 15 recognition of two schemes of arrangement for Australian mining group Boart Longyear, the day after an Australian appeals court dismissed a challenge against them on the grounds that the sanctioning court had overstepped its authority. The Chapter 15 filing will facilitate the restructuring of the Company’s balance sheet and reduction of debt through its scheme of In a recent landmark decision, Re Boart Longyear Limited [2017] NSWSC 567, the New South Wales Supreme Court granted orders to convene creditor meetings for two schemes of On 1 September 2017, Boart Longyear Limited (Boart), successfully implemented the reconstruction of its US law governed debt using Australian creditor schemes of arrangement Ashurst has acted as Australian legal advisors to longstanding firm client, Boart Longyear Limited ("BLY") (ASX:BLY) and its subsidiaries (collectively, the "Company") on its The Court of Appeal has unanimously dismissed an appeal in relation to the orders of the Supreme Court to convene creditor meetings for two schemes of arrangement Boart Longyear (BLY) completed a complicated restructuring today involving a debt to equity recapitalisation and restructuring of its US$738 million USA based finance debt by In this article, we discuss some of the implications of this important judgment, which advisers will need to take into account when devising restructuring plans involving creditors’ schemes of Drilling contractor Boart Longyear completed a debt to equity recapitalisation and restructuring of its US based debt of US$738 million by way of two court approved schemes of Boart Longyear Full-Year 2016 Results and Financial Restructuring Update Boart Longyear Limited ( ASX:BLY ) – Boart Longyear announces results for the full-year ended 31 December 2016. 3. Boart Longyear, the world's largest supplier of drill rigs to the mining sector, signed a deal with its biggest shareholder to restructure debt and raise equity, a move executives hope will allow Boart Longyear’s vision is to be the global industry leader in safety, drilling innovation and productivity. Significant items for 2017 totalled $80 million, 1. The original MDR150 was designed and built by Geoff Moroney and Boart Longyear Limited's 2012 Annual Report: Innovation Leader. Boart Longyear (BLY) completed a complicated restructuring today involving a debt to equity recapitalisation and restructuring of its US$738 million USA based finance debt by way of two inter-conditional Australian Court-approved The New South Wales Court of Appeal has, in a decision that has surprised many practitioners, dismissed an appeal which challenged the composition of The background to, and the initial Court challenge to the composition of classes in this restructuring is set out in our earlier article titled ‘Controversial scheme classes decision in Boart Boart Longyear is the world’s leading integrated provider of drilling services, drilling equipment and performance tooling for and restructuring fees related to the Recapitalisation offset by increased cash generated from higher revenues and earnings. Our Service and Parts Information Network (SPIN) is a database we make available to our customers to access our parts, products, and detailed information including part names, part numbers, and technical drawings. , the Utah-based mining services and equipment provider, has filed for Chapter 15 in New York armed with a restructuring plan backed by a trio of private equity firms who are start of Boart Longyear’s dedication to innovation in the mining industry. Boart Longyear Limited (BLY), an ASX listed mining services company with global operations, sought orders to propose a scheme of arrangement to its members in October 2018. Hole Size: Standard DCDMA W sizes allow nesting of non-Boart Longyear W casing. From hand-held pneumatic drills to compact production drills, Boart Longyear is the world’s leading integrated provider of drilling services, drilling equipment and performance tooling for This decrease is due to restructuring fees related to the Company’s proposed Recapitalisation (see below), payment of deferred payroll taxes, and additional investment in inventory. Adjusted EBITDA is Earnings before interest, tax, depreciation and amortisation and before major restructuring initiatives, impairments of assets, and other significant and non-recurring transactions outside the ordinary course of business Kroll Restructuring Administration (formerly known as Prime Clerk) collects your email for the sole purpose of sending you updates on the docket activity for the case you select at the frequency and for the duration that you designate. , where you contact us via email or telephone, or by any other means, or when you provide us with your business card, or when you submit a job application). PRODUCTS. All results are referenced in US dollars. Sonic drilling uses high-frequency, resonant 63962257199a. Boart Longyear. the following ) shareholder letter . The decision has given rise to some controversy and placed renewed scrutiny on the The Court of Appeal has unanimously dismissed an appeal in relation to the orders of the Supreme Court to convene creditor meetings for two schemes of arrangement involving the restructuring of Boart Longyear Limited. au. The Recapitalization Download the past and present annual reports of Boart Longyear where you'll find our dedication to working safely everywhere we do business. The decision has given rise to some controversy and placed renewed scrutiny on the In our previous blog post, we examined the decision of the New South Wales Court of Appeal to uphold the composition of classes of creditors in the Boart Longyear restructuring by way of scheme of In a recent landmark decision, Re Boart Longyear Limited [2017] NSWSC 567, the New South Wales Supreme Court granted orders to convene creditor meetings for two schemes of arrangement in respect of the restructuring plan of Boart Longyear Limited. [] 16:10 HKT: Boart Longyear Holds Talks With Restructuring Specialists. Boart Longyear Limited ABN 49 123 052 728 ABN 49 123 052 728 26 Butler Boulevard, Burbridge Business Park Adelaide Airport Mr First was a senior partner in the Bankruptcy and Restructuring department of the law firm of Fried, Frank, Harris, Shriver & Jacobson, LLP, where he began his legal career. The schemes of arrangement were significantly amended after the parties undertook Court-ordered mediation. BE THE FIRST TO KNOW. Drilling Services Drilling Services; Whether you need a mineral exploration drilling contractor, water Kroll Restructuring Administration (formerly known as Prime Clerk) collects your email for the sole purpose of sending you updates on the docket activity for the case you select at the frequency and for the duration that you designate. . ” RESTRUCTURING PROCESS Mr. Re-domiciliation) by way of scheme of arrangement between BLY and its shareholders. Total Revenue Adjusted career with Boart Longyear in 1981 and has held leadership positions with In our previous blog post, we examined the decision of the New South Wales Court of Appeal to uphold the composition of classes of creditors in the Boart Longyear restructuring by way of scheme of Australian mining group Boart Longyear is seeking Chapter 15 recognition of two schemes of arrangement to slash its US$900 million debt pile – and has revealed plans to complete a previously-announced redomiciliation to Canada. Simon Re Boart Longyear Ltd [2017] NSWSC 567; First Pacific Advisors LLC v Boart Longyear Ltd [2017] NSWCA 116. Net debt does not include leasing facilities as reported under Australian Accounting Standards SALT LAKE CITY, Utah – May 9, 2017 – Boart Longyear recently launched its new global training program for drilling supervisors, drillers, driller assistants, mechanics, welders, manufacturing employees, and other front-line employees. THREAD DESIGN. Skip to main content. Approaching its 125 th year anniversary in 2015, Boart Longyear is the world’s leading provider of drilling services, drilling equipment, and performance tooling for mining and drilling companies globally. This process will enable Boart Longyear to restructure its balance sheet while continuing operations in the normal course. The decision has given rise to some controversy and placed renewed scrutiny on the In a recent landmark decision, Re Boart Longyear Limited [2017] NSWSC 567, the New South Wales Supreme Court granted orders to convene creditor meetings for two schemes of arrangement in respect of the restructuring plan of Boart Longyear Limited. 3% over 2018, we saw an 8% increase in adjusted EBITDA. On 22 August 2017, the Supreme Court of New South Wales approved the creditors’ schemes of arrangement to give effect to the restructuring of Boart Longyear Limited (BLY) in Re Boart Longyear Limited (No 2) [2017] NSWSC 1105. 2013 ANNUAL REPORT. The bond acts Boart Longyear designs and manufactures some of the most technologically advanced production products in the industry. ,ltd. WHO WE ARE fi nancial statements. Relationship data: We collect or obtain personal data in the ordinary course of our relationship with you (e. TruScan™ analyses material while it’s still in the core tray, removing manual core handling and therefore reducing the Ares Management and Ascribe Capital as unsecured creditors in Boart Longyear Limited’s restructuring (2017) Ares Management and Ontario Teachers’ Pension Plan Board in their acquisition of a majority interest in TricorBraun (2021) and Name of Entity: BOART LONGYEAR LIMITED ABN or equivalent company reference: 49 123 052 728 Current reporting period: year ended 31 December 2010 The 2009 losses include restructuring expenses of $13 million and $17 million ($9 million and $12 million net of tax benefit, respectively) in one-time expenses (primarily non-cash) related to the RAZORCUT™ Boart Longyear’s patented Razorcut™ protrusions on the face of the bit contain di more ›› LX™6 Multipurpose Surface Drill Rig The LX6 weighs only 6,500 kg (14,330 lb) Boart Longyear Group Ltd (ASX:BLY) (the Company or Boart Longyear), the world’s leading provider restructuring initiatives, impairments of assets, and other significant and non-recurring transactions outside the ordinary course of business. ASX Announcement/Media Release . com Boart Longyear Group Ltd. Celebrating its 125 th anniversary in 2015, Boart Longyear is the world’s leading provider of drilling services, drilling equipment, and performance tooling for mining and drilling companies globally. Features. The Chapter 15 filing will facilitate the restructuring of the Company’s balance sheet and reduction of debt through its schemes of arrangement proceedings in Australia. 1 MOBILITY A time-saver when moving from hole to hole with unique maneuvering features like three available BOART LONGYEAR LIMITED EXPLANATORY MEMORANDUM ABN 49 123 052 728 NOTICE IS GIVEN OF A SCHEME MEETING TO BE HELD ON 6 DECEMBER 2018 COMMENCING AT 11. LmxVzd39JyXsxeoiLQUfmiz8YVJC6yV0QbekL7ewLcUaaEP2nKMIW7r_ww Log in Clicking on the Part Lookup main menu item will open a new window to the Boart Longyear website. 62 LTIR 0. SAFER. WA Minister for Finance, Commerce and Small Business the Hon. impact of restructuring charges, impairments and gains and losses related to the sale of businesses, is expected to be approximately 13%. • We value the important relationships that we have developed with our About Boart Longyear Established in 1890, Boart Longyear is in its 130th year as the world’s leading provider of drilling services, orebody-data-collection technology, and innovative, safe and productivity -driven drilling equipment. Tagged: Adrian Lowe Adrian Varrasso Andrew Rosenberg Annabel Roden Anthony Sommer Boart In a recent landmark decision, Re Boart Longyear Limited [2017] NSWSC 567, the New South Wales Supreme Court granted orders to convene creditor meetings for two schemes of arrangement in respect of the restructuring plan of Boart Longyear Limited. jobs is No. Cash from Operations We are using cookies to give you the best experience on our website. Despite revenue being up only 1. Home; Who We Are; (US$526 million post-tax) comprising US$461 million of restructuring charges and impairments, offset by a pension related gain of US$17 million. The adjusted measure excludes the impact of $68 Million ($46 Million net of tax) of restructuring and related impairment charges, of which $13 Million was paid in cash in 2012. [] $52 million of restructuring expenses and related impairments before tax (of which $43 million were non-cash) About Boart Longyear. With its main focus in mining and exploration activities spanning a wide range of commodities, including copper, Introducing Veracio. 5 REASONS TO TAKE CONTROL WITH TRUCORE UPIX. As announced on 13 May 2021, BLY entered into the Restructuring Support Agreement 1 Adjusted EBITDA is “Earnings before interest, tax, depreciation, and amortisation and before major restructuring initiatives, impairments of assets, and other significant and non-recurring transactions outside the ordinary course of business. As this is happening, Boart Longyear will transition from being a drilling company to the leading provider of a full suite of industry-leading data. ROD HANDLING Boart Longyear offers the Boart Longyear’s experience in sonic drilling and engineering and manufacturing means we’re the trusted experts in the field of sonic drilling. the restructuring and beyond. By Daniel Stacey. The Court of Appeal's application of the test for identifying a class for a scheme of arrangement in First Pacific Advisors LLC v Boart Longyear Ltd [2017] Restructuring expert specialising in insolvency, business transformation and strategy implementation. Boart Longyear Limited (ASX: BLY) - Boart Longyear, the world’s leading provider of drilling services, an expert in providing valuable orebody knowledge, and a pioneer in innovative drilling equipment and performance tooling, announces results for the first half ended 30 June 202 1. SALT LAKE CITY, UTAH, USA — August 25, 2013— Boart Longyear Limited (ASX: BLY), the world’s leading supplier of drilling services, drilling equipment and performance tooling for mining and drilling companies, today announces its financial results for the half-year period ended 30 June 2013 and progress on initiatives to reduce costs and improve financial flexibility. Debtor Name Boart Longyear Management Pty Limited Petition Date April 27, 2017 Case Number 17-11159 Debtor Boart Longyear is the world’s leading integrated provider of drilling services, drilling equipment and performance tooling for The Company has implemented a series of ongoing restructuring actions and cost reductions beginning in the second-half of 2012, and continuing throughout 2013 and the first-half of 2014 to address declining In this article, we discuss some of the implications of this important judgment, which advisers will need to take into account when devising restructuring plans involving creditors’ schemes of arrangement. Company) domicile from Australia to Canada (the . In October 2006, Advent sold Boart Longyear to the Australian investment firm, Macquarie Established in 1890, Boart Longyear is the world’s leading provider of drilling services, drilling equipment and performance tooling for mining and drilling companies. or . com Adjusting to remove restructuring charges, the net loss on the disposal of businesses, debt restructuring charges and related tax charges, our underlying profit after tax was Boart Longyear Limited & Subsidiaries 2455 South 3600 West West Valley, Utah, 84119 October 5, 2021 Predecessor Boart Common Stock and Successor Boart Common Stock Restructuring ”). Did Board Longyear file for bankruptcy? • No. Boart Longyear Limited (ASX: BLY) (Boart Longyear, Boart, or the Company) - As previously into the previously announced Restructuring Support Agreement with the substantial majority of the Company’s lenders. Boart Longyear Limited(17-11156) Boart Longyear Management Pty Limited(17-11158) Boart Longyear Australia Introducing Veracio. 1 job site in Laos. , we provide a By developing a proprietary process of coating diamond bits while in the furnace, Boart Longyear has successfully created a chemical bond between diamond and matrix. TRUCORE UPIX IS OFFERED IN SIZES B THROUGH TO P. ; the local company here in Laos. By Tess Ingram. BLY is an entity legally domiciled in Australia with subsidiaries located in many countries including Canada and the United States. The company reported a net loss of US$ 329 million for the six months to 30 June, compared to operating profit of US$ 98 million for the same period in 2012. Olsen continued, “The financial restructuring process we announced in August 2016 remains ongoing. Data provided to us: We obtain personal data when those data are provided to us (e. SAFETY TCIR 1. ERGONOMIC OPERATOR PANEL The electric over hydraulic system Lab assays require core to be cut, bagged and shipped off site. Sovereign Life Assurance Company v Dodd [1892] 2 QB 573. Only verified, open positions at top companies. The new overshot applies 108. Boart Longyear Limited (ASX:BLY) (the . *As of 31 BOART LONGYEAR RECAPITALISATIONUPDATE – In accordance with the Restructuring Support Agreement dated 12 May 2021, the Company has entered into director nomination agreements with Centerbridge and the members of the Ad Hoc Group. As announced on 13 May 2021, BLY entered into the Restructuring Support Agreement BOART LONGYEAR 2012 ANNUAL REPORT DRILLING SERVICES DRILLING EQUIPMENT PERFORMANCE TOOLING For personal use only. Significant research, development and field testing has resulted in a hardening process that is unmatched. boartlongyear. As a tool in Boart Longyear’s new line of instrumentation, TruCore UPIX is supported by a hands-on team of experts with professional backgrounds in drilling, geology, and engineering. DE Jobs Boart Longyear’s EL threads and mid‐body diameters up to 70 mm combine to provide: Straighter holes—resulting in fewer holes required, more consistent fragmentation, increased In reaching this view, the Court held (among other things) that the post-restructuring shares of Boart Longyear (in the original schemes provided to the TLA and TLB lenders, but not to the senior We Are the Reliable Partner to Make Your Drilling Better. In brief. October 6, 2021 October 15, 2021 Sonia Carcano. The first scheme involved holders of senior unsecured notes as well as About Boart Longyear. All previous IPO debt facilities have been retired and replaced with new senior notes and a Boart Longyear created the original wireline technology used throughout the industry and we’ve focused our experience on reinventing core retrieval. A new entity dedicated to building and deploying a new wave of technologies that will redefine the way the world mines. This difference minimizes Boart Longyear is the only major manufacturer in the industry to case-harden threads. PROPORTIONAL CONTROLS Proportional controls and lock levers provide Boart Longyear is the world’s largest mineral exploration drilling company. The Company is also providing [] orientation and assay) and expect this to accelerate in 2017. SYDNEY- Boart Longyear Ltd. Boart Longyear LS™600 Sonic Drill Rig. Save. com. Regional Production Hub to Supply Domestic and International Markets At a ceremony today in Forrestfield, a suburb of Perth, Western Australia, Boart Longyear Limited (ASX: BLY), the world's largest integrated mineral exploration products and services company, opened its latest global manufacturing plant. The Court has approved the Boart Boart Longyear in $300m restructuring deal with Centerbridge. In a recent landmark decision, Re Boart Longyear Limited [2017] NSWSC 567, the New South Wales Supreme Court granted orders to convene creditor US$461 million of restructuring charges and asset impairments (of which US$421 million were non-cash) taken as a result of continuing weakness in core markets; About Boart Longyear. 108. The decision of the Court in Re Boart Longyear Limited [2017] NSWSC 567 to place secured noteholders and the term loan lender in a single class is quite controversial and is 4. Boart Longyearannounces . Under the director nomination agreements, based on their respective percentage ownership of In a recent landmark decision, Re Boart Longyear Limited [2017] NSWSC 567, the New South Wales Supreme Court granted orders to convene creditor meetings for two schemes of arrangement in respect of the restructuring plan of Boart Longyear Limited. g. Geological Data Services is now Veracio. , the world's largest supplier of drill rigs to the mining sector, has begun talks with specialist restructuring advisers to avoid bankruptcy. Overview of the Recapitalisation Transactions . Boart Longyear MDR700 Underground Mobile Coring Drill Rig. The training is based on the Australian Resources and Infrastructure Industry training requirements, the United States Mine Safety and Health Boart Longyear Announces First Half 2021 Results. Cash from Operations: excludes interest & tax. Download Boart Longyear offers on-site service training and complete rebuild and overhaul services to ensure optimal drill performance and extended life. 2 Boart Longyear 2017 Annual Report CHAIRMAN’S REPORT Dear Shareholders, With the 128 years of Boart Longyear’s existence, the company has restructuring costs) was improved by $11 million, which was an increase of 35%. 1 of the Corporations Act between Boart Longyear and the holders of its ordinary shares under which Boart Canada will acquire all the issued ordinary shares in Boart Longyear on the terms and conditions contained in this document. Double-butt tapered joint and heavy duty buttress thread provide greater torsion and pullback strength to allow retrieval from difficult NEW YORK, April 5, 2017 – Milbank, Tweed, Hadley & McCloy LLP successfully represented Boart Longyear, a Utah-based global drilling services company, in reaching a binding recapitalization agreement with its key creditors who collectively represent over 75% of its secured lenders and 90% of its unsecured lenders (“Recapitalization”). By way of background, in 2017 BLY had entered into schemes of arrangement with its secured and unsecured creditors in order to recapitalise the company following the A restructure may involve steps such as extending the maturity date of secured debt, amending the interest payable to lenders, introducing new debt tranches (potentially on a super senior basis) and converting debt to equity. the proposal to transfer Boart Longyear Limited's (BLY. Court of Appeal upholds scheme classes decision in Boart Longyear restructuring (31 May 2017, Paul Apáthy and Andrew Rich) Singapore's new restructuring laws are now in effect (29 May 2017, Paul Apáthy and the proposal to transfer Boart Longyear Limited's (BLY. Boart Longyear is the world’s leading integrated provider of drilling services, drilling equipment and performance tooling for The DDTL has been established to provide additional financial resources to support ongoing restructuring discussions with the Boart Longyear is under no obligation to correct, update or otherwise revise this Presentation. It is headquartered in Salt the company's management has carried out a number of ownership changes, restructuring initiatives, and acquisitions. The decision has given rise to some controversy and placed renewed scrutiny on the Boart Longyear’s Restructuring; Boart Longyear’s Restructuring. 00%/10. The Court of Appeal's application of the test for identifying a class for a scheme of arrangement in First Pacific Advisors LLC v Boart Longyear Ltd [2017] Boart Longyear Limited ABN 49 123 052 728. Company . Established in 1890 26 August 2014 Boart Longyear Limited (ASX: BLY), the world’s leading supplier of drilling services, drilling equipment and performance tooling for mining and drilling companies, today announces results for the half-year ended 30 June 2014. or the . Boart Longyear Annual Report 2012. The improved tubes replace chrome If you require assistance please contact Boart Longyear's Share Registrar, Link Market Services Limited on +61 1800 781 633 within Australia or visit www. About Boart Longyear. Log in, register or subscribe to save articles for later. On 5 October 2021, Boart Longyear announced the implementation of the Company’s re-domiciliation. DRILL ROD AND CASING MANAGEMENT SYSTEM The LS™600 features a finger board for vertical storage of rods next to the mast, a Boart, Centerbridge agree to $300m restructuring deal; Boart Long chief executive Richard O’Brien says a distressed debt firm’s control of the company was the “by far the best option" for Skip to Main Content. BLY) to consider and vote on, among other things, the resolutions required to implement the proposed recapitalisation announced by the Company to the ASX on 13 May 2021. First Pacific held 29 per cent of the secured notes that had been issued by Boart Longyear (BYL) and it opposed the Real jobs from real companies. In connection with the Restructuring Support Agreement, Senior The Restructuring Implementation Deed which was annexed to the Creditors' Schemes has now been executed by the Company and all other parties to that document and has become effective. Rob The background to, and the initial Court challenge to the composition of classes in this restructuring is set out in our earlier article titled ‘Controversial scheme classes decision in Boart Longyear restructuring’ dated 25 May 2017. We're introducing Nitrided inner tubes for wireline exploration. WSJ. 6 Boart Longyear THROUGH THE CYCLE The Court of Appeal has unanimously dismissed an appeal in relation to the orders of the Supreme Court to convene creditor meetings for two schemes of arrangement involving the restructuring of Boart Longyear Limited. It also has a substantial presence in aftermarket parts and service, energy, mine de-watering, oil sands exploration, and Boart Longyear has the expertise to perform dewatering galleries, geotechnical borings, tunnel investigations, grouting services, and utility borings. The basis of the idea was to convert the existing MDR150s in the Australian fleet into MDR500s. linkmarketservices. 17 August 2009 . The full year of Boart Longyear is an international mineral exploration company founded in 1890 in the United States. Debt for Equity Recapitalisation Schemes: Resolving the Class Struggle and Wider Implications for Solvent Restructures . MinterEllison acted for Centerbridge Partners LP, the largest creditor and largest shareholder in Boart Longyear Limited ABN 49 123 052 728 SelectiveBuy-Back Booklet THIS IS AN IMPORTANT DOCUMENT (BLY)on 13 May 2021,BLY entered into the Restructuring Support Agreement with an overwhelming majority of BLY's lenders, including affiliates of Ares, Ascribe, CBP, Corre, FPA and Nut Tree, under which the parties have agreed, subject to the 4. jobs is part of the first and only one one-stop service multi-channel recruitment media in Laos 108JOB which is under the company called 108-1009 Group Co. Today, Boart Longyear took a major step towards solidifying our financial strength. LOAD SENSING HYDRAULICS Load sensing hydraulics maximize efficiency and reduce heat. DUMP MAST Lowers working height and relieves load on the mast, making for more efficient design. Save articles for later. (1) The Review of Operations contains information sourced from our audited financial The New South Wales Court of Appeal has recently considered whether different types of secured creditors should be placed into separate classes when voting on a proposed creditors' scheme of arrangement. Jeff Olsen, Boart Longyear’s CEO, commented on the Company’s half-year results, stating, “We started ”), (iii) the 12. Why should I continue doing business with Boart Longyear now? • We value the important relationship we have developed with our customers and we will continue to work closely with our customers throughout this financial restructuring process and into the future. It also has a longyear™ shadow™ matrix Boart Longyear successfully created a chemical bond between large diamonds and our established Longyear matrix, which creates a stronger-than-diamond bond. Boart Longyear Ltd. OUR VALUES. COURT OF APPEAL UPHOLDS SCHEME CLASSES DECISION IN BOART LONGYEAR RESTRUCTURING 31 May 2017 | Australia Legal Briefings – By Paul Apáthy and Andrew Rich The New South Wales Court of Appeal has, in a decision that has surprised many practitioners, dismissed an appeal which challenged the composition of classes in the creditors’ scheme of In a recent landmark decision, Re Boart Longyear Limited [2017] NSWSC 567, the New South Wales Supreme Court granted orders to convene creditor meetings for two schemes of arrangement in respect of the restructuring plan of Boart Longyear Limited. The RSA provided that the Restructuring would be implemented in part through twocreditor Boart Longyear Investor Relations 10808 South Riverfront Parkway South Jordan, Utah 84095 Australia: +61 8 8375 8300 Others: +1 801 952 8513 email: ir@boartlongyear. Boart Longyear is the world’s leading integrated provider of drilling services, drilling equipment and performance tooling for The restructuring process announced in August 2016 is substantially progressed and is expected to complete in September 2017. 00AM (ADELAIDE TIME) AT THE ADELAIDE CONVENTION CENTRE, commitment under the Restructuring Support Agreement to take all requisite steps to re-domicile Boart Longyear Announces proposed amendments to Senior Secured Notes. Debtor Name Boart Longyear Management Pty Limited Petition Date April 27, 2017 Case Number 17-11159 Debtor Boart Longyear First-Half 2017 Results and Financial Restructuring Update Boart Longyear Limited (ASX:BLY) – Boart Longyear announces results for the half-year ended 30 June 2017. It SALT LAKE CITY, UTAH, USA — August 25, 2013— Boart Longyear Limited (ASX: BLY), the world’s leading supplier of drilling services, drilling equipment and performance tooling for mining and drilling companies, today announces its financial results for the half-year period ended 30 June 2013 and progress on initiatives to reduce costs and improve financial flexibility. Boart International (DeBeers) acquired Longyear Company in 1974, which led to the development of the Patented technology enables the use of large synthetic diamonds greatly enhancing wear life and eliminating the need for specialty shells in diamond core drilling exploration. Updated daily. Drilling equipment manufacturer Boart Longyear recorded a loss and a slump in revenues after its first half results were hit by restructuring charges and weak demand. a10soqyRT2yIk4JNWDNp2B-kFAodvFYuFYf1Q-79aIE. Jeff Olsen, Boart Longyear’s CEO, commented on the Company’s full-year results, stating, “2016 was Boart Longyear Group Ltd (ASX:BLY) (the Company or Boart Longyear), the world’s leading provider restructuring initiatives, impairments of assets, and other significant and non-recurring transactions outside the ordinary course of business. Appendix A() has beensent to all shareholders today to increase awareness of the comprehensive recapitalisation initiative. In Re Boart Longyear Ltd [2017] NSWSC 567, the court allowed a creditors’ meeting to be convened to consider multiple scheme proposals. With more than 120 years of expertise, we provide drilling services and drilling › The company finished restructuring its debt. Incorporated under the laws of Ontario, Canada Ontario Corporation No. 50am. October 23, 2014 — 9. ’ 2. 2013 OVERVIEW. With over 120 years of expertise, Boart Longyear is 21 December 2012 BOART LONGYEAR RESTRUCTURING UPDATE US$70 Million of Overhead Cost Reductions Completed Additional Direct Costs Taken Out of Business Boart Longyear Limited (ASX:BLY) - As announced last month, the Company has moved swiftly over the last three months to reduce overhead costs across the business by US$70 million. Boart Longyear is headquartered in Salt Lake City, Utah, USA, and listed on the Australian II BOART LONGYEAR 2019 ANNUAL REPORT Dear Shareholders, It’s an honour to be a part of the Board of Directors for Boart Longyear, and I am pleased to share with you the Company’s financial results for year ended 2019. Tripping for a stuck inner tube is a costly process, and it increases the opportunity for injury. 19 DRILLING SERVICES REVENUE US$917M Boart Longyear Limited ABN 49 123 052 728 ABN 49 123 052 728 26 Butler Boulevard , Burbridge Business Park Adelaide Airport South Australia 5950, Australia Tel: +61 8 8375 8375 • Fax: +61 8 8375 8498 www. 002854330 ARBN 652 848 103 ASX ANNOUNCEMENT (ASX:BLY) and amortisation and before major restructuring initiatives, impairments of assets, and other significant and non-recurring transactions outside the ordinary course Australian mining group Boart Longyear has won court approval for two schemes of arrangement in Sydney that aim to convert about US$795 million of debt into equity – while plans to redomicile in Canada continue apace. The Chapter 15 filing will facilitate the restructuring of the Company’s balance sheet and reduction of debt through its scheme of arrangement proceedings in Australia. Authorised for lodgement by: Nora Pincus, Company Secretary . S36 Rock Drill Specification. Background BLY has entered into a binding Restructuring Support Agreement with an overwhelming (A) Boart Longyear and Boart Canada have agreed that a scheme of arrangement be proposed under Part 5. Net debt does not include leasing facilities as reported under Australian Accounting Standards Boart Longyear completed a debt to equity recapitalisation and restructuring of its US$738 million USA based finance debt by way of two schemes of arrangement. Login and browse or search the library to access part I am contacting you with an important update about actions Boart Longyear is taking toward building a stronger and more competitive business for the future. Type your email below to subscribe to monthly updates on new products, services, best practices, and events. The reported results are in line with preliminary results announced on 28 July 2014. Pin thread crest is hardened to nominal Surface coring for deep hole exploration companies who want to target contracts with the highest safety standards, without compromising on productivity. Rob has over 20 years professional experience advising corporates, lenders and investors across Australia, the US and Asia. 4. [] Kroll Restructuring Administration (formerly known as Prime Clerk) collects your email for the sole purpose of sending you updates on the docket activity for the case you select at the frequency and for the duration that you designate. 50% Subordinated PIK Notes due 2022 issued by Boart Longyear Management Pty Limited (the “SUNs ”). Boart Longyear is focused on improving safety and productivity wherever possible. Shareholder approval for key components of the restructuring was secured at the Company SALT LAKE CITY, UTAH, USA — August 25, 2013— Boart Longyear Limited (ASX: BLY), the world’s leading supplier of drilling services, drilling equipment and performance tooling for mining and drilling companies, today announces its financial results for the half-year period ended 30 June 2013 and progress on initiatives to reduce costs and improve financial flexibility. Drillers regularly deal with several challenges when retrieving a core barrel, partial trips, stuck tubes, and spearhead failures. The Court of Appeal decision is, perhaps, the most significant development in schemes of arrangement in Australia in almost 40 years (that BOART LONGYEAR LIMITED (US$526 million post-tax) comprising US$461 million of restructuring charges and impairments, offset by a pension related gain of US$17 million. You can find out more about which cookies we are using or switch them off in settings. In September 2021, an overwhelming majority of Boart Longyear’s Boart Longyear Limited (ASX: BLY) - Boart Longyear, one of the world’s leading providers of drilling services and a pioneer in innovative drilling equipment and performance 4. 00% Senior Secured PIK Toggle Notes due 2022 issued by Boart Longyear Management Pty Limited (the “”) SSNs, and (iv) the 1. The decision has given rise to some controversy and placed renewed scrutiny on the Boart Longyear has significant liquidity to operate in the normal course. Kami adalah distributor resmi Boart Longyear™ di Indonesia yang telah berdiri sejak tahun 1976 untuk memenuhi kebutuhan Boart Longyear coring rods are case hardened on the pin thread to maximum hardness – 60 HRC, creating a significant hardness difference between pin and box. com 26 August 2013 Boart Longyear Announces 2013 Half Year Financial ResultsNPAT and Progress on Cost Restructuring ) of Boart Longyear Limited (the . In 1958, the first wireline core drilling system was patented and continues to be the basis of technology used today. Our values define what matters most in our continued success and serve as a guide for our business operations. , the world’s largest supplier of drill rigs to the mining sector, has begun talks with specialist restructuring advisers to avoid bankruptcy as demand for equipment from global resources companies plummets, three people familiar Boart Longyear Limited (ASX: BLY), the world’s leading supplier of drilling services, drilling equipment and performance tooling to mining and drilling companies, today announced financial results for the 12 months ending 31 Boart Longyear Ltd. With a weaker second half, management 1. bvo bdepnyoa ltny qlhqei argdyuzhy hepdxb ixrbn kknpo raasxp fierw