Funds managed by JPMorgan Chase & Co., BlackRock Inc. and other large asset managers said they would appeal a Texas federal court’s rejection of their breach of contract claims over a 2022 debt transaction by aerospace supplier Incora.
The Incora bondholders told the US District Court for the Southern District of Texas on Tuesday that they would be appealing its December decision that the company’s controversial pre-bankruptcy financing deal stripping them of debt collateral was permissible.
The appealing investment firms in 2024 prevailed in bankruptcy court on claims that they were wrongly harmed by the deal orchestrated by Incora and ...