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2022-05-26 02:56:54

Skip to content MD Helicopters Enters Into Asset Purchase Agreement to Strengthen Financial Position and Support Operations for the Long-Term On March 30, MD Helicopters announced that it has entered into an asset purchase agreement with a creditor consortium led by Bardin Hill and MBIA Insurance Corporation. The creditor consortium will acquire nearly all of the Company’s assets and provide $60 million in new capital to strengthen MD’s financial position and support the Company’s continued ability to manufacture and service its high-performance helicopters. As part of the transaction, we have filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. This action is expected to provide for a quick and orderly sale of the Company in a court-supervised sale process.MD fully expects operations to continue as normal during the sale process. We have ample liquidity to meet our business obligations, including a commitment for additional new financing in connection with this process, and we remain focused on serving civil and military customers and working with suppliers as normal. Our customers are our top priority and we are as dedicated as ever to providing state-of-the-art technology, exceptional performance and the highest quality of service and support.We expect the sale to proceed expeditiously. For more information about what this process means for MD and our stakeholders, please refer to the FAQs on this page. Information and Resources Press Releases March 30, 2022 MD Helicopters Enters Into Asset Purchase Agreement with Group Led by Bardin Hill and MBIA Insurance Corporation Download PDF FAQs Customer FAQ Download PDF Vendor / Supplier FAQ Download PDF Case InformationCourt filings and information about MD Helicopters’ Chapter 11 case are available on a separate website administered by the Company’s claims agent, Kroll Restructuring Administration LLC (formerly known as Prime Clerk LLC), at https://cases.primeclerk.com/MDHelicopters/.Toll-free in the U.S.: 844-205-4334International:  +1 646-442-5834Email: [email protected] Media ContactsMichael Freitag / Dan Moore / Andrew SquireJoele Frank, Wilkinson Brimmer Katcher(212) 355-4449