{"id":17441,"date":"2018-06-05T00:10:01","date_gmt":"2018-06-04T21:10:01","guid":{"rendered":"https:\/\/bestinsurance.gr\/a1\/?p=17441"},"modified":"2018-06-05T00:10:01","modified_gmt":"2018-06-04T21:10:01","slug":"aegean-marine-review-shows-200m-owed-needs-to-be-written-off","status":"publish","type":"post","link":"https:\/\/bestinsurance.gr\/a1\/archives\/17441","title":{"rendered":"Aegean Marine Review Shows $200m Owed Needs to Be Written Off"},"content":{"rendered":"<h3>(Bloomberg) &#8212; Preliminary findings of a review of Aegean Marine Petroleum\u2019s 2017 annual financial statement shows that about $200m of accounts receivable owed will need to be written off.<\/h3>\n<p>Co. says amounts due from four counterparties; transactions stemming from the acounts &#8220;may have been, in full or in part, without economic substance and improperly accounted for&#8221;<\/p>\n<p>Co. says account account for full impact on financial statements or how adjustment will be recorded<\/p>\n<p>Audit committee continuing review and investigation of transactions and other matters<\/p>\n<p>Committee expects to recommend that it pursue claims against individuals and entities involved in the transactions<\/p>\n<p>A number of those believed to be involved in the transactions have been terminated or placed on administrative leave pending the outcome of the investigation<\/p>\n<h3>\nShares down 43.9% in post-market trading<\/h3>\n<p>&nbsp;<\/p>\n<p>Source: Bloomberg<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Bloomberg) &#8212; Preliminary findings of a review of Aegean Marine Petroleum\u2019s 2017 annual financial statement shows that about $200m of accounts receivable owed will need to be written off. Co. says amounts due from four counterparties; transactions stemming from the acounts &#8220;may have been, in full or in part, without economic substance and improperly accounted<\/p>\n","protected":false},"author":1,"featured_media":17442,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2],"tags":[],"class_list":["post-17441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-2"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/17441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/comments?post=17441"}],"version-history":[{"count":1,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/17441\/revisions"}],"predecessor-version":[{"id":17443,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/17441\/revisions\/17443"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media\/17442"}],"wp:attachment":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media?parent=17441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/categories?post=17441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/tags?post=17441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}