Court allows Premier Oil to delay debt repayment, raise equity for BP deal

LONDON (Reuters) - A British court on Wednesday approved Premier Oil's plans to extend debt maturities by two years and raise up to $500 million in equity to buy North Sea assets from BP and others, but the deal depends on market conditions, Premier said.Activist hedge fund ARCM, which has a short position on Premier's shares of around 17% and holds around 15% of its debt, said it would appeal the court's decision, which delays any further action until the appeal is resolved. Other creditors..