Boeing Troubles Send Aerospace Supplier Into Ch. 11
Law360 (April 6, 2021, 10:39 AM EDT) -- Hobbled by groundings of Boeing Co.'s 737 Max, precision aerospace equipment supplier TECT Aerospace Group Holdings Inc. and six affiliates sought Chapter 11 protection in Delaware early Tuesday, proposing a sale effort that will be kept aloft by a $60 million Boeing loan.
The groundings of Boeing's 737 Max combined with the COVID-19 pandemic have forced TECT Aerospace Group into Chapter 11 bankruptcy, the aerospace equipment supplier said Tuesday. (Photo by Olivier Douliery/AFP via Getty Images)
The Kansas-headquartered company, which has facilities in Everett, Washington, where Boeing is based, said in a case-opening declaration that the big aircraft manufacturer's troubles added...
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