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The so-called “Diva of Distressed” promised to apply her expertise in rescuing failing companies to turn MDHI around, which she did with mixed success.Under her leadership, MDHI continued commercial helicopter production in addition to securing several important military contracts, including sizable MD 530F orders for the Afghan Air Force. MD is continuing normal operations. Tilton appears to have relinquished control of MD Helicopters and other portfolio companies of Patriarch Partners following rulings by a Delaware bankruptcy court earlier this month.
In 2018, Tilton and bondholders negotiated a plan whereby Tilton would be allowed to manage and sell the portfolio companies to satisfy debt, but the deal quickly unraveled after Tilton was accused of stalling the sales.
At this year’s HAI Heli-Expo in Anaheim, California, Even before the COVID-19 crisis struck, however, the company suffered a serious setback when Boeing won an Finding that Boeing has the right to make and sell the AH-6i — a matter that MDHI had disputed — the panel ordered MDHI to pay Boeing’s $4.2 million arbitration costs (as well as its own $7.4 million costs) and provide Boeing with all MELB tooling, one set of common tooling, and one set of tooling drawings by April 30.MDHI’s spokesperson confirmed that the company recently executed “a small reduction in force,” explaining that “through the course of normal business it is often necessary to evaluate staffing levels and adjust to ensure both customer and company objectives are met.”As to whether MDHI will be put up for sale, the spokesperson said, “There has been no communication to indicate that MD Helicopters is currently for sale.”When you sign up for a specific newsletter, we (Avfoil - Connecting Aviation, The Aviation Marketplace) add your email address to a corresponding mailing list. Sponsored By. The colorful and controversial reign of Lynn Tilton at MD Helicopters is over. Lynn Tilton has resigned as chief executive of MD Helicopters after a bankruptcy court orderer that she sell the aircraft manufacturer to repay debts to her holding company Patriarch Partners. When Tilton acquired MD in 2005, she called it “a company that was 20 years broken.” Reflecting at this year’s Heli-Expo, she said MD had evolved from an empty shell to a stable, going concern. Those foreign military sales drew the attention of federal law enforcement when it was revealed that in 2012 Tilton had hired a former high-ranking Army officer who ran the service’s non-standard rotary wing office, the entity responsible for procuring MD 530F/G light attack scout helicopters for the Afghan Air Force. She acquired the company in 2005 and rebuilt it thanks in large part to substantial foreign military sales of militarized MD500 series single-engine helicopters whose design harkened back to the Vietnam War when the company was known as Hughes Helicopters. 5.8MB The officer, Norbert Vergez, entered into a plea-bargain on unrelated federal charges of felony conflict of interest and neither MD nor Patriarch were charged in the case.

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