Trade Secrets Row Pushes Aviation Parts Co. Into Ch. 11

Law360, New York (April 22, 2013, 2:05 PM EDT) -- Connecticut-based aviation component manufacturer AGC Inc. announced Friday it had filed for Chapter 11 and entered a $5.7 million stalking horse asset sales agreement, saying the 2008 recession and costly trade secrets litigation with an ex-employee sapped its finances.

AGC filed for bankruptcy on April 16 in Connecticut federal court, listing assets of about $7.34 million and liabilities of about $8.35 million. Harlow Aerostructures LLC has agreed to serve as stalking horse bidder for the company’s asset auction, the company said.

AGC CEO R. Bruce Andrews...
To view the full article, register now.