Oceanwood Settles Debt Sale Claim With Cyrus Fund

Law360, London (September 27, 2019, 3:59 PM BST) -- Funds run by asset manager Cyrus Capital Partners LP have settled their dispute with Oceanwood Capital Management Ltd. over the planned sale of a share of €390 million ($426.6 million) in debt issued by a Norwegian paper mill.

The claim, filed by Cyrus Opportunities Master Fund II Ltd. and five other funds against Oceanwood Opportunities Master Fund, has been stayed at the High Court after the parties reached an out-of-court agreement on Sept. 20.

Judge Nigel Teare signed off on the stay on Wednesday, saying in his order filed with the court that the terms of the settlement are confidential. He...

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