Aegean Marine Petroleum, one of the biggest independent marine fuel suppliers in the world, on Tuesday filed for chapter 11 bankruptcy protection in a New York City federal court.
The listed company, along with 74 subsidiaries, said the move is linked with a restructuring plan, in partnership with Swiss commodity trader Mercuria Energy Group, which holds 30 percent of Aegean Marine. Both sides signed a relevant agreement last July, with Aegean reportedly extended a one-billion-dollar credit line and 30 million USD in working capital.
