Rams Could Still Auction Off Two ex-Avantair Avantis

AINalerts » September 26, 2013
September 26, 2013, 3:15 PM

New Jersey-based Part 145 repair station Teterboro Rams, which has mechanics’ liens on four ex-Avantair Piaggio Avanti turboprops in its possession, is “in negotiations with two groups [of owners] to release two of the aircraft,” Rams co-owner Dennis Espinosa told AIN. The FAA revoked the airworthiness certificates of all 56 ex-Avantair Avantis not long after the fractional provider was declared insolvent in late July.

Espinosa said owner groups of two of these aircraft will have the Piaggio Aero factory inspection team comply with Service Bulletin 80-0409, which was issued two weeks ago and outlines the recertification requirements for the ex-Avantair Avantis. The owners of the other two Avantis in Rams’ possession are “kind of in disarray,” he said, and if no agreement is reached beforehand, the company intends to seek approval in Bergen County Court on October 15 to auction the aircraft.

The bankruptcy judge overseeing Avantair’s liquidation recently removed a stay that had prevented Rams from auctioning the aircraft this month, as initially planned. “We’ll get the date of the auction from the sheriff’s department after the October 15 hearing,” Espinosa said.

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on September 26, 2013 - 9:35pm

Any chance of yourself or another writer asking the bankruptcy court on the Oct 19 hearing about the status of the employee 401K accounts? The trustee and her counsel have refused to sign off on rollovers of employee money and have been allegedly been discussing transfering the accounts to another company and charging the accounts the costs of the transfer. This money belongs to the respective former Avantair employees, not the bankruptcy court or the trustee to take money from to pay for unneeded transfers. The fact that this is still being dragged on might make for an interesting story, and might finally put the trustee on the spot to explain why the delays in employees getting THEIR money out of these accounts. Thanks

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Chad Trautvetter
on September 27, 2013 - 9:03am

Matt, you’re confusing the courts here.  The case in the Bergen County (N.J.) Court is related only to Rams’ mechanic’s liens and their right to auction off the aircraf to satisfy these liens. It has nothing to do with the Avantair bankruptcy case being heard in the Florida Middle District Court in Tampa. So the Avantair trustee will not be at the Bergen County Court hearing.

As for the bankruptcy case, there is a hearing scheduled on October 17. The public is allowed to attend these hearings, so any of the ex-Avantair employees could go there and talk to the trustee and trustee’s counsel in person.

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