December 6, 2018 / 9:49 PM / 4 months ago

Aegean Marine warns of messy liquidation if bankruptcy loan denied

Bankrupt maritime fuel provider Aegean Marine Petroleum Network Inc said on Wednesday it will sink into a disorderly liquidation without court approval for a $532 million loan from a proposed buyer.

The Greek company’s warning came in a filing in U.S. Bankruptcy Court for the Southern District of New York in which the company rebuked its official committee of unsecured creditors for asking the court to reject the debtor-in-possession (DIP) financing deal.

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