In a hearing of the lawsuit filed by Blue Sky Avgroup against kit-airplane developer Epic Air, a federal judge in late August agreed with both the plaintiff’s and defendant’s request that a receiver be appointed. Early this month, the receiver is expected to provide a report and then Bend, Ore.-based Epic Air and sister companies Aircraft Completions Services and Aircraft Investor Resources will file for bankruptcy. The court ordered that the receiver, Conrad Myers of Portland, Ore.-based Myers & Co., “take exclusive charge, control and possession of the assets and operations of the [Epic] companies.” The judge granted wide latitude to the receiver to take control of Epic’s assets, collect profits, proceeds and accounts receivable, and “to contract with Boeing for development and completion of pending work.” Boeing did not respond to AIN’s requests for comment.
Epic Air Filing for Bankruptcy
- September 30, 2009, 12:20 PM