EnergyWatch

Aegean could exit insolvency within a week

A court has approved Aegean's restructuring plan, and the bunker company is therefore escaping insolvency in the US within a week.

Photo: Aegean Marine Petroleum

Greek bunker company Aegean Marine Petroleum Network will withdraw from bankruptcy protection under Chapter 11 within one week, which the company applied for in November last year.

A New York judge has confirmed Aegean's restructuring plan on condition of minor changes. This means Aegean can withdraw from bankruptcy protection within one week and reestablish as a subsidiary under the the company's new owners, Mercuria Energy Group Limited, announced the company.

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