AeroCentury Corp. [AMEX: ACY] gained 22.53% or 5.63 points to close at $30.62 with a heavy trading volume of 10332230 shares. The company report on June 23, 2021 that AeroCentury Corp. Files Proposed Plan of Reorganization. AeroCentury Corp. (“AeroCentury” or the “Company”) (NYSE American:
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AeroCentury Corp. (NYSE: ACY) stock combined with its branched-off businesses and daughter companies, specializes in leasing and finance services to various airlines around the globe. ACY has reported that Aero century Corp daughter companies filed a petition (the “Chapter 11 Case”) under chapter 11 of title 11 of the United States Code. A chapter 11 debtor usually seeks relief and aims reorganization to keep sustain its business and resolve indebtedness.
ACY has planned that the Chapter 11 process is an extremely efficient way to pay back the creditors and increase company progression towards their aim of continuing in operating aircraft and leasing in order to save enterprise value for the stakeholders in the company.