Summary Box: UK Petroplus refinery in operation

AP News
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Posted: Jan 26, 2012 12:35 PM
Summary Box: UK Petroplus refinery in operation

UP AND RUNNING: The British refinery owned by collapsed Swiss energy company Petroplus Holdings has resumed shipments to customers, while authorities in France investigate possible misuse of funds.

INVESTIGATING: An investigation's under way into suspected bankruptcy through misuse of funds at a French unit of Petroplus. There are suspicions that a bank account of Petroplus-France was stripped of about $129 million.

MONEY WOES: Petroplus, Europe's largest independent refiner, filed for insolvency after failing to agree with its lenders on its $1.75 billion credit line. The company had a loss of $413 million in the first nine months of last year.