FORGE FLIGHTWORKS, INC. Bankruptcy Filing

FORGE FLIGHTWORKS, INC. Filing Information

FORGE FLIGHTWORKS, INC., a corporation based in Tennessee, has filed for bankruptcy under case number 24-03831 in the Tennessee Middle Court. The company's bankruptcy filing occurred on October 4, 2024, marking an important step in its financial restructuring process. According to publicly available information, Judge Nancy B King will preside over the case, overseeing the corporation's efforts to reorganize its debts and assets. This development marks a significant turning point for FORGE FLIGHTWORKS, INC., as it seeks to navigate the complexities of bankruptcy law and emerge from financial difficulties in an orderly manner. As the process unfolds, the court will closely monitor the company's progress, ensuring that it complies with all relevant bankruptcy regulations and guidelines.

FORGE FLIGHTWORKS, INC. has filed for bankruptcy, citing significant debt and financial distress. The company, which operates in the aerospace industry, is expected to liquidate its assets following the filing. According to court documents, Forge Flightworks' asset range falls within $100,001-$1,000,000, suggesting a moderate level of value in its remaining properties and equipment. However, the liabilities associated with the case are substantial, ranging from $1 million to $10 million, indicating that the company's financial obligations will be difficult to satisfy. With 50-99 creditors listed, Forge Flightworks' bankruptcy filing suggests a moderate level of complexity and potential for disputes among its lenders and other stakeholders. The company's financial struggles have led it to seek protection under Chapter 11 or 13 of the US Bankruptcy Code, which will allow it to restructure its debts and potentially emerge from bankruptcy with a more manageable financial burden.

FORGE FLIGHTWORKS, INC. indicated on its bankruptcy petition that it does not expect there will be sufficient assets in the estate to make a payment to the unsecured creditors. This is a bad sign for creditors as it implies that no recovery is likely.