McDermott International, Inc. – Seeks Approval for Bidding Procedures (and Frothy Bidder Protections) and APA in Respect of $2.725bn Sale of Lummus Assets to Joint Partnership Comprised of The Chatterjee Group and Rhône Group

January 22, 2020 – The Debtors filed a motion [Docket No. 110] requesting Court approval for (i) bidding procedures in respect of the sale of the Debtors' Lummus Assets (the “Sale”) and (ii)  authorization to enter into a $2.725bn stalking horse asset purchase agreement (the "APA," attached to the motion) with Illuminate Buyer, LLC (the…