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...
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