Incora secures second extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Feb. 21 – Wesco Aircraft Holdings, Inc. (Incora) secured a second extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Wednesday with the U.S. Bankruptcy Court for the Southern District of Texas.

The court extended the exclusive plan filing period by 120 days through May 26 and the exclusive solicitation period by 120 days through July 25.

Incora noted that the court has started a trial to resolve claims at the heart of litigation concerning March 2022 bond transactions.

The company said it has also obtained broad support for a Chapter 11 plan of reorganization that would eliminate about $2 billion of net debt from its balance sheet.

“The requested extension of the exclusive periods is necessary and appropriate to enable Incora to resolve the up-tier litigation and move toward implementation of the RSA and first modified joint Chapter 11 plan,” the company said in the motion.

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, 2023 under Chapter 11 case number 23-90611.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.