New Chapter 11 Filing – AeroCentury Corp.
On March 29, 2021, AeroCentury Corp., a Calif.-based publicly traded aircraft operating lessor and finance company specializing in leasing regional aircraft and engines to regional airlines and commercial users in 15 countries, announced it and certain of its subsidiaries filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-10636). The company reports $121 million in assets and $124.7 million in liabilities as of Sept. 30, 2020. Board resolutions attached to the petition authorize the debtors’ entry into a stalking horse asset purchase agreement between AeroCentury and Drake Asset Management Jersey Limited.
Cole Schotz does not represent the Debtors in this case. We are posting this for informational purposes only. If you have received a notice and have any questions, you should contact Debtors’ counsel.
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