A US federal court judge in New York has sided with Aegean Marine Petroleum Networks' former leadership in a lawsuit seeking to hold them accountable for an alleged $300m-plus fraud scheme that pushed the bunker provider into bankruptcy court.
Senior District Judge Naomi Reice Buchwald granted the motion to dismiss, filed by former president Nikolas Tavlarios and former directors Peter Georgiopoulos, John Tavlarios and George Konomos, holding that Aegean's former unsecured creditors had failed to substantiate that the four had failed in their legal responsibilities to shareholders last Thursday.
