Tect Aerospace Gets Approval for Bankruptcy Plan that Includes Boeing Deal
March 08 2022 - 5:55PM
Dow Jones News
By Becky Yerak
Tect Aerospace Group Holdings Inc., which filed for bankruptcy
last year due to fallout from Boeing Co.'s 737 MAX jetliner
problems as well as travel restrictions during the pandemic, got
its chapter 11 plan approved.
Tect, based in Wichita, Kan., sold its Kansas operations to
Boeing as part of the bankruptcy, which was filed last April in the
U.S. Bankruptcy Court in Wilmington, Del.
Assets in Everett, Wash., were sold to another company. The
liquidation plan also includes a settlement that resolves potential
litigation between Tect, the unsecured creditors committee and
Boeing, which had also been a Tect lender.
Write to Becky Yerak at becky.yerak@wsj.com
(END) Dow Jones Newswires
March 08, 2022 17:40 ET (22:40 GMT)
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