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Aviation Component Manufacturer Section 363 Sale

AGC, Incorporated

A team of business and bankruptcy lawyers successfully completed and closed a Section 363 Sale in a Chapter 11 case recently filed in the United States Bankruptcy Court for the District of Connecticut for our client, AGC Incorporated, an aviation component manufacturer.  The Section 363 Sale, which was approved by the Bankruptcy Court in just 34 days, included the preparation and filing of the Chapter 11 case; a Motion to Approve Bidding Procedures; a Motion to Sell all of the assets of the Debtors’ companies to a Stalking Horse Bidder; the negotiating, preparation and obtaining of Bankruptcy Court approval of the Asset Purchase Agreement and related documents with the Stalking Horse Bidder; the negotiating and closing of the sale to a third party who bid more for all of the Debtors’ assets at an Auction; and extensive negotiations with secured and unsecured creditors regarding the distribution of the proceeds from the sale of the assets.

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