Eclipse Aviation Auction Takes Place Tomorrow

AINalerts » January 13, 2009
January 13, 2009, 10:45 AM

The public auction for the assets of bankrupt Eclipse Aviation is scheduled for tomorrow, followed by the bankruptcy court’s selection of the winner on Friday. Some interested parties have visited Eclipse recently, according to an Eclipse spokeswoman. “If there is not more than one qualified bid,” she said, “then there is a chance it won’t go to auction.” Etirc, which had a stake in Eclipse before bankruptcy, is the only known bidder at this time. Hawker Beechcraft will not be a bidder, according to an insider contacted by AIN, while Eclipse founder and former president and CEO Vern Raburn said that he is not involved with any bidder nor is he planning to bid on Eclipse’s assets. A number of objections to the asset sale have been filed in recent days and might affect the final bidding. Flat-panel supplier Innovative Solutions & Support, for example, claims that the sale includes a “cure” amount–to be paid by the successful bidder–for its supply contract with Eclipse, but that the amount is less than the $5,012,452 it says it’s owed.

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