JetChoice, a Little Canada, Minn.-based membership charter company, voluntarily filed for Chapter 7 bankruptcy (liquidation) last month. The filing lists assets of $5.4 million, $4 million owed to creditors holding secured claims, $465,695 owed to creditors holding unsecured priority claims and $21.3 million owed to unsecured creditors. Most of the priority claims are for unpaid wages, benefits and expense reimbursements, and many of these employees are owed thousands of dollars. A number of FBOs are listed as unsecured creditors, as are several other aviation service companies.
JetChoice Files Chapter 7
- June 2, 2009, 6:46 AM