Aerocentury Corp.

ASE:ACY   9:54:36 AM EDT
+0.68 (+5.57%)
Debt Financing / Related, Restructuring / Reorganization, Bankruptcy / Related

Aerocentury Corp Says Files Proposed Plan Of Reorganization

Published: 06/22/2021 23:11 GMT
Aerocentury Corp. (ACY) - .
Files Proposed Plan of Reorganization.
Aerocentury - Bankruptcy Court Has Set a Hearing Date of July 12, 2021 to Hear Proposed Motion and to Consider Approval of Solicitation Procedures Has Not Yet Entered Into Any Agreement With a Plan Sponsor.
Proposed Plan/disclosure Document Contemplates Two Potential Paths to Debtors' Emergence From Bankruptcy.
Aerocentury - Co, Its Two Subsidiaries Filed With Delaware Bankruptcy Court a Proposed Combined Plan of Reorganization.
Aerocentury - Co Further Proposes That If a Plan Sponsor Agreement is Not Executed by Voting Deadline, Plan Will Proceed on Stand-alone Plan Scenario.
First Sponsored Plan Scenario That is Dependent Upon Co Finding Suitable Plan Sponsor That Would Enter Into Plan Sponsor Agreement.
Plan Sponsor Agreement With Company to Operate Debtors' Businesses on a Go-forward Basis.