The United States Bankruptcy Court Southern District of New York on Tuesday (15 January) gave troubled New York listed bunkering firm Aegean Marine Petroleum Network Inc. (Aegean) the go ahead to start its restructuring process.
“The Debtors are authorized to take all actions necessary to effectuate the relief granted in this Order in accordance with the Motion,” stated the Honorable Michael E. Wiles, U.S. Bankruptcy Judge.
“The Debtors are authorized to enter into the RSA and perform thereunder.”
Manifold Times earlier reported the committee of creditors choosing to implement a revised Restructuring Support Agreement offered by Mercuria Energy Group Limited (Mercuria).
A timeline organised list of events preceding the current development have been recorded by Manifold Times below:
Related: Aegean Chapter 11: Mercuria counters Oaktree/Hartree proposal plan
Related: Aegean Chapter 11: Bondholders object Mercuria’s $532 million DIP Facility
Related: Aegean Chapter 11: Creditor list shows exposure of 30 parties
Related: Aegean files for Chapter 11, Mercuria to be ‘stalking horse bidder’
Related: Aegean auditors alleges up to $300 million ‘misappropriated’
Related: Aegean: Forensic auditors target investigations on four companies
Related: President of Aegean to leave, effective November 15
Related: Rumours: Alleged changes at Aegean’s management
Related: Mercuria starts ‘sole lender’ arrangement with Aegean
Related: Aegean establishes new management committee
Related: Mercuria bails Aegean out with $1 billion credit
Related: Ocean Intelligence comments on Aegean credit downgrade
Related: Aegean shares down 71%, to face legal investigations
Related: Aegean audit uncovers $200 million account discrepancy
Related: Aegean unfolds several business developments
Related: Aegean drops founder, elects new board members
Related: Aegean requests for ‘additional time’ to file annual report
Related: Aegean welcomes new Chief Financial Officer
Related: Lawsuit filed against Aegean’s H.E.C. acquisition
Related: Aegean to offer ‘one-stop-shop solution’ with H.E.C. acquisition
Related: Aegean in $367 million acquisition of port reception facilities services group
Related: Aegean shareholders ‘gravely concerned’ over board’s silence
Related: Shareholders nominate ‘highly qualified’ candidates to Aegean board
Related: Aegean Marine Petroleum Network under shareholder pressure
Published: 16 January, 2019
