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 as
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.
The long-awaited auction of the assets of bankrupt Eclipse Aviation could occur 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.
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.
Although a number of proposals have been floated to buy the assets of bankrupt very light jet manufacturer Eclipse Aviation, none has attracted enough support or interest from the bankruptcy court to receive final approval.
The current status of the 259 Eclipse 500 very light jets that were delivered before the manufacturer went bankrupt in February remains tenuous.
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.
Eclipse Jet, one of the companies formed to try to buy the assets of bankrupt Eclipse Aviation, has entered into an agreement with logistics and management organization Eclipse Service Network to form a network of third-party U.S. service centers. Eclipse Jet is also in discussions with third-party service providers in Europe to start an equivalent operation there.
A group of Eclipse 500 owners and Hawker Beechcraft (HBC) today announced the signing of a non-binding letter of intent under which HBC’s service network would provide maintenance and upgrades for Eclipse Owners Group (EOG) members. The two parties are now negotiating a “definitive binding agreement,” according to an EOG statement.
While various entrepreneurs have tried to buy and resell the 28 Eclipse 500 very light jets that were flown by bankrupt air-taxi firm DayJet, none has succeeded. Now Randall Sanada, chairman of aircraft charter and management firm Jet-Alliance of Westlake Village, Calif., has proposed a new way to market those jets, still owned by UT Finance, a subsidiary of United Technologies.