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Alabama Aircraft Industries submits reorganization plan

This week, Alabama Aircraft Industries Inc. submitted a reorganization plan that proposes selling the majority of their assets to Kaiser Group Holding out of Virginia for $500,000.

Chief Executive of the military aircraft modification company operating out of Birmingham-Shuttlesworth International Airport said of Kaiser, “Their plan is that they intend to continue to operate the facility as a maintenance and overhaul center.  They have the financial stability that we require right now.”

The company filed for bankruptcy in February listing around $69 million in debt to the United Auto Workers pension plan.

If you or someone you know is struggling financially and wants to learn more about the benefits of filing for personal bankruptcy, contact the Birmingham personal bankruptcy attorneys of Greenway Bankruptcy Law, LLC by calling (205) 324-4000 today.

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