Aegean Marine Files Reorganization Plan, Disclosure Statement

Aegean Marine Petroleum Network Inc., with its restructuring support agreement and debtor-in-possession financing already approved by a New York bankruptcy court, expects to emerge from Chapter 11 around the end of the first quarter of 2019, according to a statement.

General unsecured creditors at the parent to receive 100 percent of initial proceeds from litigation claims, until they receive payment in full on account of allowed claims.

General unsecured creditors at the subsidiaries will receive full recoveries in normal course.

Pre-petition common equity holders will receive 100 percent of residual interests in litigation claims once general unsecured creditors at parent ...