$8M Boeing Claim Imperils AAI Ch. 11 Plans: Creditors

Law360, New York (March 24, 2011, 8:59 PM EDT) -- Boeing Co.’s attempt to leapfrog an $8 million claim past secured creditors in Alabama Aircraft Industries Inc.’s bankruptcy could threaten the debtors' reorganization plans and force liquidation, attorneys said at a hearing Thursday in Delaware.

AAI’s secured creditors — the Pension Benefit Guaranty Corp. and Special Value Bond Fund LLC — threatened to cut off the aircraft repair company’s use of cash collateral at a hearing in the U.S. Bankruptcy Court for the District of Delaware, in fear that Boeing’s claim, if given priority, would leave...
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