Aerocentury Corp.

ASE:ACY   3:59:40 PM EDT
7.37
-0.19 (-2.51%)
Debt Financing / Related, Bankruptcy / Related

Aerocentury Files Petition For Chapter 11 Reorganization

Published: 03/29/2021 23:51 GMT
Aerocentury Corp. (ACY) - .
Files Petition for Chapter 11 Reorganization.
Will Continue to Operate Its Business As "debtor-in-possession" Under Jurisdiction of Bankruptcy Court.
As of Filing Date, Company Believes It Has Sufficient Cash on Hand to Support Its Ongoing Operations.commenced Voluntary Case Under Chapter 11 of Title 11 of U.
S Code in United States Bankruptcy Court for District of Delaware.
As of March 29, 2021, Company Owned Twelve Aircraft.
Aerocentury-intends to Pay Vendors,suppliers Under Customary Terms for Goods&services Received on Or After Filing Date& Pay Employees in Usual Manner.
Aerocentur-depending Upon Length of Covid19 Induced Crisis & Impact on Revenue, Co May Seek Access to Additional Capital As Reorganization Progresses.
Business Operations Across Aerocentury Platform Are Continuing Without Interruption.