Incora Judge Vows to Reject Revival Plan Unless Proposal Changes

A proposal to get Incora out of bankruptcy will be rejected by a federal court unless the aerospace parts maker changes the plan, the judge overseeing the company’s insolvency case said during a court hearing Thursday.

“When I read the plan I think it is a ‘heads I win, tails you lose’ plan,” US Bankruptcy Judge Marvin Isgur told lawyers for Incora during a court hearing held by video. If the company cannot negotiate changes with creditors and comes back to court with the current plan, “I’ll just reject it,” Isgur said.

The warning comes as creditors continue talking about ...