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Boeing Supplier Impresa’s Bankruptcy Liquidation Plan Approved

April 28, 2021, 4:57 PM

Impresa Aerospace LLC won bankruptcy court approval of its Chapter 11 liquidation plan that incorporates settlements to pay out the Boeing Co. supplier’s creditors and employees with the proceeds from its earlier asset sale.

The plan, approved Wednesday by Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware, follows the January sale of substantially all of the aircraft parts manufacturer’s assets to Crestview Aerospace LLC for $10.5 million and assumption of several liabilities.

Impresa, the committee of unsecured creditors, and secured lender Twin Haven Special Opportunities IV LP jointly proposed the plan, which funnels ...

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