Aegean Chapter 11: NYSE delisting scheduled for December 3

Business

Published Thu, 22nd November 2018
by Admin

Aegean did not file a written request within the specified time period to contest decision, said NYSE.

New York listed bunkering firm Aegean Marine Petroleum Network Inc. (Aegean) is scheduled to be delisted from the New York Stock Exchange (NYSE) on December 3, 2018, said NYSE on Wednesday.

Aegean on 6 November filed voluntary petitions for relief under Chapter 11 of the US Bankruptcy Code in the Bankruptcy Court for the Southern District of New York.

“The Exchange, on November 6, 2018, determined that the Common Stock of the Company should be suspended from trading, and directed the preparation and filing with the Commission of this application for the removal of the Common Stock from listing and registration on the Exchange,” it notes.

“The Company was notified by phone and letter on November 6, 2018. Pursuant to the above authorization, a press release regarding the proposed delisting was issued and posted on the Exchange's website on November 6, 2018.

“Trading in the Common Stock was suspended immediately.”

NYSE said Aegean had a right to appeal the NYSE decision via a written request within ten business days of receiving notice of the delisting determination but it did not file such request within the specified time period.

A timeline organised list of events preceding the current development have been recorded by Manifold Times below:

Published: 22 November, 2018

Aegean Chapter 11: NYSE delisting scheduled for December 3

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