After filing for bankruptcy in mid-March and coming up with a plan of reorganization in early April, leading helicopter services provider PHI Inc. (PHIIQ, PHIKQ) has faced major opposition from the Official Committee of Unsecured Creditors which, among other things, has made motions to potentially subordinate a $130 million senior secured term loan provided by the CEO, end the company's exclusivity period for filing a plan of reorganization and dismiss the company's advisor, Houlihan Lokey Inc. (HLI).
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But after engaging in court-supervised mediation last week, PHI Inc.'s main