Aegean Marine Reports Court's Confirmation Of Plan Of Reorganization

(RTTNews) - Aegean Marine Petroleum Network Inc. (ANW) announced the Bankruptcy Court has confirmed its plan of reorganization, subject to minor modifications. The company said this development paves the way for it to emerge from Chapter 11 restructuring next week as a wholly-owned subsidiary of Mercuria Energy Group.

Aegean Marine Petroleum Network commenced its Chapter 11 process on November 6, 2018, with the support of Mercuria, reorganizing in order to improve its liquidity and position the company for long-term success. The company said its plan of reorganization was the result of its successful global settlement with its various creditor groups, including Mercuria.