Court documents that surfaced this week show Gulfstream is set to pay just over $190 million to resolve an ongoing suit that centered around inventory being withheld by the supply chain management company Incora, which was responsible for managing inventory and procuring parts for its business jet assembly lines.
The lawsuit originated when Incora, a supplier that provides procurement and warehousing services for the aerospace and defense industries, declared Chapter 11 bankruptcy in June 2023. In December, the supplier filed a motion with Texas’ Southern District bankruptcy court to reject the Gulfstream contract as a part of its restructuring, on the grounds that it was “impairing Incora’s business,” Kevin Matthies, president of global hardware at Incora, said during trial last week.
According to court filings and hearing transcripts reviewed by The Air Current, Gulfstream claimed that, as of December 2023, the company was refusing to sell back the inventory that was intended for Gulfstream and managed by Incora at several inventory stocking locations in North America.
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