Petroplus Holdings AG announced that the composition proceedings (“Nachlassstundung”) for it and its Swiss subsidiary Petroplus Marketing AG were granted and that the Court appointed RA lic.iur. Brigitte Umbach-Spahn and RA lic.iur. Karl Wüthrich, Wenger Plattner Rechtsanwälte as administrator (“Sachwalter”) for the assets of the above companies.

Petroplus also announced that its subsidiaries in Switzerland, Petroplus Tankstorage AG and Petroplus Refining Cressier S.A., which owns the Cressier refinery, have filed for composition proceedings (“Nachlassstundung”).

Petroplus further announced that its subsidiary in Belgium, the Belgian Refining Corporation N.V., which owns the Antwerp refinery, has filed for judicial reorganization proceedings (“gerechtelijke reorganisatie”).