New Delaware Chapter 11 Filing – Aerospace Holdings, Inc.

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Aerospace Holdings, d/b/a GroupAero, along with four of its affiliates, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 17-10635).  The Debtors’ petition reports $10-50 million in assets and $50-100 million in liabilities.  Through its operating subsidiaries, Aerospace Holdings provides engineering, design and manufacturing services to the space, commercial aerospace and defense markets.  According to the First Day Declaration of Matthew D. Sedigh, the Debtors’ CRO, the Debtors  intend to sell substantially all of their assets.  The stalking horse bidder is Harlow Aerostructures LLC.  BMCGroup is the proposed claims agent.  The case has been assigned to the Honorable Kevin Gross.

Contact Norman L. Pernick and Nicholas J. Brannick for more information.

As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.

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