Aegean Marine Petroleum Network's new bankruptcy plan has gotten the OK from a federal judge.

In a quick, amicable hearing in Manhattan bankruptcy court Monday morning, District Judge Michael Wiles signed off on the restructuring support agreement and debtor-in-possession plan hashed out last month between the New York-listed bunkering company, lender Mercuria Energy Group and formerly dissident creditors.

"Both of these matters are going forward on an uncontested basis," said Ben Winger, an attorney for Aegean.

The new plan sees Aegean reorganised, with Mercuria receiving all the equity in the company, while the unsecured creditors get $40m, plus the entirety of claims stemming from the alleged $300m fraud scheme perpetrated by founder Dimitris Melissanidis.

Aegean Marine declared bankruptcy on 6 November, capping off a tumultuous year that nearly saw it liquidated in June.

Instead, Mercuria stepped in as the company's sole lender. After bankruptcy, the Swiss commodities trader provided $532m in post-petition financing and was originally set to be the stalking horse bidder in a sale.

Creditors alleged that deal was an attempt to acquire Aegean at bargain prices and did not take into account the alleged fraud claims, which they said was possibly the company's most valuable asset.

The deal approved Monday was made after Oaktree Capital Management and Hartree Partners swooped in with their own bid, seeking reorganize Aegean and woo creditors with $30m plus three-quarters of the alleged fraud claims.

The two sides, according to court papers, negotiated the new plan with Mercuria "on the courthouse steps."

After the plan was submitted to the court, only a single objection, requesting clarification of some of the language, was filed.

Monday, the hearing lasted roughly a half an hour with the creditor's attorney, Kevin Zuzolo, primarily telling Wiles the creditors support the plan.

Winger said the deal is backed by around 60% of creditors, a figure they intend to grow.

According to court papers, Aegean hopes for confirmation of its plan in April and plans to emerge from bankruptcy in May.