Petitions cast doubt on Czech OEM merger

 - May 15, 2008, 5:40 AM

A bankruptcy court judge in the Czech Republic last month granted bankruptcy petitions filed by several creditors against Moravan Airplanes and Libor Soska, CEO of LZ Aircraft Works, the company formed by the merger of Moravan and Let Kunovice. The judge then declared Soska involuntarily bankrupt. A spokesman for the company characterized the petitions, filed in June last year when Moravan made its tender for Let, as “ancient history,” and suggested the creditors were now attacking Soska on a personal level in response to the awarding of the L-610G program to LZ earlier this year.