In re Alliance Aerospace (01-52973)

Principals of Debtor guaranteed a debt owed by Debtor and secured the guaranty with certain of Debtor’s equipment. When Debtor filed a Chapter 11 petition, the guarantors filed a contingent claim. After the guarantors made a payment on the debt, the Court allowed them a secured claim for the amount of the payment.

Date: 
Friday, April 19, 2002