Springer Aerospace starts bankruptcy proceedings

Springer Aerospace Holdings has commenced its restructuring proceedings under the Companies’ Creditors Arrangement Act in November 2022. The company has obtained Court approval of a sale and investment solicitation process (the ‘SISP’) to solicit interest in and opportunities for a sale, restructuring, recapitalization or other form of reorganization of Springer Aerospace’s assets and/or business operations. The SISP is a two-phase process started on January 11, 2023. Phase I is intended to solicit non-binding letters of interest. The deadline to submit letters of interest compliant with the SISP terms is 5:00 p.m. Eastern Time on February 3, 2023. Phase II will solicit