Incora’s cash collateral motion draws objection from BofA

By Sarah Lizee

Olympia, Wash., June 27 – Wesco Aircraft Holdings, Inc.’s (Incora) motion for final approval to access cash collateral drew an objection from asset-based lending agent Bank of America, NA, according to documents filed Tuesday with the U.S. Bankruptcy Court for the Southern District of Texas.

BofA said it generally supports the debtors in their efforts to reorganize in Chapter 11, and the parties reached an agreement for the debtors’ interim use of cash collateral that was included in the interim order.

The ABL agent has been and is continuing to engage in discussions and negotiations with the debtors and other parties-in-interest regarding the potential continued consensual use of cash collateral for a longer period, BofA said.

However, BofA said it has not yet been able to reach a satisfactory agreement regarding the adequate protection of its interests in the cash collateral for purposes of a final order and is filing the objection to protect those interests.

A final hearing is scheduled for June 29.

Based in Fort Worth, Incora is a provider of comprehensive supply chain management services to the global aerospace and other industries. The company filed bankruptcy on June 1 under Chapter 11 case number 23-90611.

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