A US federal judge has given preliminary approval to a deal that will see two accountancy giants pay a total of $29.8m to extract themselves from securities litigation over Aegean Marine Petroleum Network.

The decision by district judge Naomi Reice Buchwald will see the Greek units of PricewaterhouseCoopers (PWC) and Deloitte each pay $14.9m to end claims against them and shield the accounting firms from further claims in the court battle over allegations.