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Aegean Marine Petroleum Network Inc (fka ANWWQ) RSS Feed

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"Holders of the Company’s pre-prepetition common equity will receive 100% of the residual interests
in the litigation claims once general unsecured creditors at the parent have received payment in full"



Potential Shareholder Recovery:

General Unsecured Debt:
4.00% Convertible Unsecured Notes due 2018: $94.6M
4.25% Convertible Unsecured Notes due 2021 $172.5M
Total General Unsecured Debt: $267.1M




Common shareholders will get any recovery above $267.1M.
There has been ONE $300M litigation filed on February 1, recovery of which would go to
the trust - there could be multiple  more lawsuits filed, with a significant amount of recovery
in excess of the $267.1M, considering that one case alone was for $300Million.


As an example, if just this ONE litigation is successful, that leaves $33M for common shareholders:

$33Million / 53Million OS = $0.62/sh.



Link to suit filed below:

https://www.law360.com/articles/1124917/aegean-marine-hit-with-suit-over-alleged-300m-fraud





Plan of Disclosure clearly states that all 53 million common shares of ANWWQ will receive their pro rata share of Class B Litigation Trust Units. Case closed.
Shares is the total OS, not just people who held prior to BK filing. You’ll also see on page 143 where it says all holders of Aegean equity interests
will receive their pro rata share of Class B Litigation Trust Units on the effective date:


https://document.epiq11.com/document/getdocumentbycode/?docId=3439319&projectCode=AES&source=DM




 



Greek Court Contesting Legitimacy of US Court Bankruptcy 

(April 18, 2019)



https://document.epiq11.com/document/getdocumenstbydocket/?docketId=714504&projectCode=AES&docketNumber=527&source=DM 



 



TRUSTEE LITIGATION



http://www.rctlegal.com/wp-content/uploads/aegean-complaint.pdf







https://www.tradewindsnews.com/law/former-aegean-marine-directors-sued-over-alleged-fraud-scheme-/2-1-672321


 


COURT LISTENER




Kravitz v. Tavlarios (1:19-cv-08438)



https://www.courtlistener.com/docket/16182258/kravitz-v-tavlarios/



 



COURT DOCKETS



https://dm.epiq11.com/case/AES/dockets



 
 
Docket 735

NOTICE OF ADJOURNMENT PLEASE TAKE NOTICE, that the telephonic hearing (the “Hearing”) on Aegean Marine Petroleum S.A.’s Objection to Proofs of Claim Numbers 10045, 10102, & 10104 (ECF Doc. No. 719), scheduled for February 24, 2021, is adjourned until April 28, 2021 at 10:00 a.m. and will be held telephonically before the Honorable Michael E. Wiles, United States Bankruptcy Judge, at the United States Bankruptcy Court, Southern District of New York, Alexander Hamilton U.S. Custom House, Courtroom 617, One Bowling Green, New York, New York 10004. 

 
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