Tuesday, July 31, 2012

Reuters: Bankruptcy News: Coryton creditors to get up to 6.4 pct of claims -PwC

Reuters: Bankruptcy News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com
Coryton creditors to get up to 6.4 pct of claims -PwC
Jul 31st 2012, 16:20

LONDON, July 31 | Tue Jul 31, 2012 12:20pm EDT

LONDON, July 31 (Reuters) - Creditors of bankrupt refiner Petroplus's UK operations, mainly the Coryton refinery, will be paid a maximum of 6.4 percent of their claims, Steven Pearson, a joint administrator at PwC, said on Tuesday.

The creditors will receive $102 million to $135 million, while their claims are estimated to total $2.1 billion to $2.4 billion, Pearson said.

He said that losses sustained in runnning the refinery between January and June had reduced the amount available for distribution.

He added that the return to creditors was low also because the parent had loaded some $1.75 billion of debt against the UK division.

You are receiving this email because you subscribed to this feed at blogtrottr.com.

If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

0 comments:

Post a Comment

 
Great HTML Templates from easytemplates.com.