Reuters: Bankruptcy News: Petroplus delisting delayed

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Petroplus delisting delayed May 4th 2012, 16:28 ZURICH | Fri May 4, 2012 12:28pm EDT ZURICH May 4 (Reuters) - Insolvent Swiss oil refiner Petroplus said on Friday its delisting from the Swiss bourse will be delayed as the exchange decides whether to hear a shareholder appeal. "The appeals board of the SIX Swiss Exchange has not yet decided if it will hear the shareholder appeal against a shortened continued listing period of the shares of Petroplus Holdings AG," the company said. Petroplus said in late March it intended to apply to delist its shares from the SIX Swiss exchange and expected the last day of trading to be May 11. The company's future was thrown into doubt in December when lenders froze credit lines it relied on to buy oil. Despite last-ditch talks with creditors, Petroplus was forced to apply for insolvency in January. (Reporting by Caroline Copley; Editing by Dan Lalor)

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