Former deposit-holders for Eclipse 500 very light jets recently filed four lawsuits in New Mexico district courts alleging various wrongdoings by Eclipse Aviation executives before the company filed for bankruptcy one year ago. Named in the suits are former Eclipse Aviation leaders, including Vern Raburn, Roel Pieper, Peg Billson, Michael McConnell and Mark Borseth, as well as sales and support personnel.
Eclipse Aerospace held a supplier summit on October 27 for manufacturers and vendors of Eclipse EA500 very light jet components. Eclipse Aerospace purchased the assets of bankrupt manufacturer Eclipse Aviation on September 1 and is focusing on supporting the existing fleet of EA500 VLJs.
Harco general manager Michael Milardo said his company would support the Eclipse EA500–for now. Harco makes the airspeed probes for the compact very light jet. Milardo said his company is planning to participate in the Eclipse Aerospace suppliers conference scheduled for October 27 in Albuquerque, N.M., and will work with Eclipse’s new owners and current aircraft operators.
Eclipse Aerospace, the new owner of the assets of Eclipse Aviation, has wasted no time consolidating facilities, organizing inventory and modifying Eclipse E-500 very light jets with flight-into-known-icing (FIKI) systems and avionics upgrades. On September 30, the FAA and EASA formally reinstated the E-500’s U.S. and European type certificates to Eclipse Aerospace.
The bankrupt status of Eclipse Aviation finally ended in August after Eclipse Aerospace bought the assets of the very light jet manufacturer for $40 million. On September 1, Eclipse Aerospace founders Mason Holland and Michael Press joined Albuquerque mayor Martin Chávez to celebrate the reopening of the factory at Eclipse’s headquarters at Albuquerque International Air- port.
On Tuesday morning at Albuquerque International Airport, Mason Holland and Michael Press were joined by Albuquerque mayor Martin Chávez to celebrate the reopening of formerly bankrupt Eclipse Aviation.
After no other bids emerged for the assets of Albuquerque, N.M.-based Eclipse Aviation, a federal bankruptcy judge on August 20 approved the $40 million offer from Eclipse Aerospace for the former builder of Eclipse 500 very light jets.
As anticipated, no last-minute bids emerged for the assets of Eclipse Aviation and yesterday a federal bankruptcy judge in Albuquerque approved the $40 million offer from Eclipse Aerospace for the former builder of Eclipse 500 very light jets. Eclipse had entered Chapter 11 bankruptcy proceedings in November last year and Chapter 7 in February.
The trustee in the Chapter 7 bankruptcy proceedings for Eclipse Aviation late last week asked the bankruptcy court to approve the sale of the former very light jet manufacturer’s assets essentially “free and clear of liens, claims, encumbrances and other interests pursuant to the Agreement [with Eclipse Aerospace].” If all goes smoothly and no other bidders emerge, in a few weeks Eclipse Aerospace will close on a $40 million deal to buy the a
The long-awaited auction of the assets of bankrupt Eclipse Aviation might be held on June 24, according to Mike Press, owner of Eclipse 500 S/N 004 and president and CEO of Single Pilot Jet Management. Press and Eclipse depositor Mason Holland have formed a company, now named Eclipse Aerospace, to bid on the Eclipse assets.