A Turning Point for MD Helicopters

摘要

After operating in leadership limbo since the departure two years ago of former CEO Lynn Tilton, MD Helicopters, Inc. (MDHI) is moving forward with the late March announcement that a creditor consortium led by investment firm Bardin Hill and MBIA Insurance Corporation would acquire the rotorcraft manufacturer. As part of the sale, Mesa, Arizona-based MD Helicopters filed voluntary petitions for reorganization under Chapter 11 of the US Bankruptcy Code. The filing helps expedite the sale of the company. In addition, MD will receive $60M in debtor-in-possession (DIP) financing from accounts managed by Bardin Hill and MB Global Partners.