Boeing Rips Alabama Aircraft's Proposed Ch. 11 Sale

Law360, New York (August 30, 2011, 4:28 PM EDT) -- Boeing Co. on Monday objected in Delaware bankruptcy court to Alabama Aircraft Industries Inc.'s plan to sell its assets to a rival military maintenance company for $500,000 and up to $30 million in proceeds from potential litigation.

Boeing said the stricken company's proposal is fundamentally unfair because it would protect Alabama Aircraft's officers and directors, while putting the company's customers and vendors in the crosshairs of the buyer — Kaiser Aircraft Industries Inc.

Last week, Alabama Aircraft accepted Kaiser's offer, saying the sale under Bankruptcy Code...
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