November 03, 2011
Cut off from using its lenders' cash collateral and burdened with more than $1 million in unpaid administrative expenses, Alabama Aircraft Industries won a Delaware bankruptcy court's permission on Thursday to convert its Chapter 11 case to Chapter 7.
August 30, 2011
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.
August 23, 2011
Stricken military aircraft maintenance company Alabama Aircraft Industries Inc. agreed Monday to sell its operating assets to Kaiser Aircraft Industries Inc. for $500,000 in cash and up to $30 million in proceeds from potential litigation.