Petroplus Holdings AG Industriestrasse 24
CH-6304 Zug
Switzerland
Zug, Switzerland, January 26, 2012 - Petroplus Holdings AG
(SIX: PPHN) today refuted all allegations of fraudulent
bankruptcy in France. At the opening of business on January
23, 2012, the total balances on bank accounts held by
Petroplus' French subsidiary, Petroplus Marketing France SAS,
at Deutsche Bank were €124 million and $59 million. During
that dayDeutsche Bank, one of the lenders under the Revolving
Credit Facility ("RCF"), transferred €122million and $59
million of this cash that was held on accounts pledged under
the RCF out of these accounts. No Petroplus legal entity
provided any instructions or took any actions to transfer
these funds from these French accounts. A formal
investigation has been opened by the public prosecutor in
France.
Contact information: Petroplus Holdings AG
Fredrik Olsson; +41 (0) 58 580 1244
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