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:
Related: Aegean Chapter 11: U.S. Bankruptcy Court grants first day motions
Related: Aegean Chapter 11: Official committee of unsecured creditors appointed
Related: Aegean Chapter 11: Plan for 120-day sale process submitted to court
Related: Aegean Chapter 11: Bondholders object Mercuria’s $532 million DIP Facility
Related: Aegean Chapter 11: Creditor list shows exposure of 30 parties
Related: Aegean files for Chapter 11, Mercuria to be ‘stalking horse bidder’
Related: Aegean auditors alleges up to $300 million ‘misappropriated’
Related: Aegean: Forensic auditors target investigations on four companies
Related: President of Aegean to leave, effective November 15
Related: Rumours: Alleged changes at Aegean’s management
Related: Mercuria starts ‘sole lender’ arrangement with Aegean
Related: Aegean establishes new management committee
Related: Mercuria bails Aegean out with $1 billion credit
Related: Ocean Intelligence comments on Aegean credit downgrade
Related: Aegean shares down 71%, to face legal investigations
Related: Aegean audit uncovers $200 million account discrepancy
Related: Aegean unfolds several business developments
Related: Aegean drops founder, elects new board members
Related: Aegean requests for ‘additional time’ to file annual report
Related: Aegean welcomes new Chief Financial Officer
Related: Lawsuit filed against Aegean’s H.E.C. acquisition
Related: Aegean to offer ‘one-stop-shop solution’ with H.E.C. acquisition
Related: Aegean in $367 million acquisition of port reception facilities services group
Related: Aegean shareholders ‘gravely concerned’ over board’s silence
Related: Shareholders nominate ‘highly qualified’ candidates to Aegean board
Related: Aegean Marine Petroleum Network under shareholder pressure
Published: 22 November, 2018
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