Helicopter Maker Once Controlled by Lynn Tilton Files Bankruptcy

MD Helicopters Inc., part of the distressed-debt portfolio formerly run by financier Lynn Tilton, filed bankruptcy with plans to sell itself to lenders, unless a higher bid comes in.

• In court papers filed in Wilmington, Delaware, the company said it has a tentative deal to allow lenders to swap debt for equity at an auction to be conducted under the supervision of a bankruptcy judge
• The company, based in Mesa, Arizona, listed assets and debt of as much as $500 million each in its Chapter 11 petition
• The case is MD Helicopters, Inc., 22-10263, U.S. Bankruptcy Court for ...