Aegean Marine Petroleum Network was — by its own admission this week — on the verge of needing to liquidate itself in June
It was under pressure from existing lenders, liquidity woes and an internal scandal that had seen $200m in trade receivables purportedly diverted from its coffers.
“Mercuria’s injection of liquidity was a literal lifeline at a point when Aegean’s operations had all but ground to a halt,” Aegean director Tyler Baron said in a court affidavit this week.
