Chapter 11, Title 11, United States Code

October 26, 2010 - 12:02pm

A Delaware bankruptcy court could decide as early as today whether to allow Emivest Aerospace to continue operations after the company filed for creditor protection and reorganization under Chapter 11 of the U.S. bankruptcy code late last week. The maker of the $7.5 million SJ30 light jet indicated that it could obtain up to $4 million in debtor-in-possession financing to keep its doors open and continue to support the four in-service SJ30s.

April 30, 2010 - 9:39am

A bankruptcy judge on April 12 approved an asset purchase agreement between China Aviation Industry General Aircraft (CAIGA, also known as AVIC General Aviation) and the bankruptcy trustee of Epic Air. CAIGA’s bid of $4.3 million

March 30, 2010 - 5:30am

Phillip Friedman, CEO of Harlow Aerostructures of Wichita, at press time was vying to buy the assets of bankrupt aircraft developer Epic Air. Last year, Friedman mounted an effort to bid on the assets of bankrupt very light jet manufacturer Eclipse Aviation, although he never made it into the final bidding. An auction for Epic’s assets–Epic Air, Aircraft Investor Resources and Aircraft Completion Services–was scheduled for March 26.

March 11, 2010 - 11:07am

Phillip Friedman, CEO of Harlow Aerostructures of Wichita, is vying to buy the assets of bankrupt aircraft developer Epic Air. Last year, he mounted an effort to bid on the assets of bankrupt very light jet manufacturer Eclipse Aviation, though he never made it into the final bidding. An auction for Epic's assets is scheduled for March 26.

November 24, 2009 - 12:54pm

Swindler Bernard Madoff’s charter company, BLM Air Charter, filed for voluntary bankruptcy (Chapter 11) in the U.S. Bankruptcy Court Southern District of New York on November 12. The bankruptcy filing lists two creditors as holding the largest unsecured claims: Embraer Aircraft Customer Service, with a claim of $240,728.50; and Rolls-Royce, with $181,289.76. Irving Picard, court-appointed trustee for the liquidation of Bernard L.

April 30, 2009 - 11:25am

Anyone attempting to view information on the Web site of European Technology and Investment Research Center (Etirc) will find what looks like a television test pattern occupying what was formerly a description of a thriving investment business.

April 23, 2009 - 12:55pm

Roel Pieper’s European Technology and Investment Research Center (Etirc) has filed for bankruptcy, ending Etirc Aviation’s once-lofty plans to distribute Eclipse 500s in Europe and Russia and build an Eclipse assembly plant in Russia. Etirc announced plans to become an Eclipse distributor and help companies operate air-taxi networks two years ago.

March 12, 2009 - 11:58am

JetDirect Aviation has now placed two of its subsidiary companies into bankruptcy. The first was Regal Jets of Dallas, placed into Chapter 11 bankruptcy on February 25. On Friday, JetDirect placed Novato, Calif. charter operator Sunset Aviation Inc. into Chapter 7 liquidation. JetDirect Aviation had furloughed all Sunset Aviation Inc.

March 12, 2009 - 9:43am

JetDirect Aviation has now placed two of its subsidiary companies into bankruptcy. The first was Regal Jets of Dallas, placed into Chapter 11 bankruptcy on February 25.

On Friday, JetDirect placed Novato, Calif. charter operator Sunset Aviation, Inc. into Chapter 7 liquidation.

December 29, 2008 - 7:00am

Eclipse Aviation filed for Chapter 11 protection in U.S. bankruptcy court in Delaware on November 25, leaving creditors holding $702.6 million in claims. The move closely followed two major achievements in the company’s history, EASA certification of the Eclipse 500 very light jet and FAA certification of the Avio NG 1.5 avionics system.

 
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