Incora Wins Backing to End Bankruptcy as Creditors Keep Fighting

Aerospace supplier Incora won creditor support to get out of bankruptcy even though senior lenders and bondholders will continue battling over an infamous, 2022 distressed debt deal that scrambled the company’s capital structure.

The company announced the tentative agreement during a court hearing Thursday by reading a statement from the mediator who has been overseeing settlement talks in New York. The judge overseeing Incora’s bankruptcy said he was encouraged by the mediator’s progress report and scheduled a court hearing for next month to consider approving Incora’s bankruptcy exit plan.

Earlier this week bondholders and lenders met with the mediator ...