Bankruptcy

February 28, 2011 - 3:00am

Emivest Aerospace has had its court-administered Chapter 11 bankruptcy protection extended through midsummer while it tries to complete the sale of the companyπs assets to an entity owned by the Chinese government. Attorneys for the maker of the SJ30 light jet successfully petitioned the U.S.

January 25, 2011 - 7:58am

Emivest Aerospace is asking that its court-administered Chapter 11 bankruptcy protection be extended through midsummer while it tries to complete the sale of its assets to an entity owned by the Chinese government. Last week, attorneys for the maker of the SJ30 light jet filed a motion with the U.S.

December 5, 2010 - 10:01pm

Emivest Aerospace, manufacturer of the SJ30 light jet, is less than two months away from liquidation under the terms of the Chapter 11 bankruptcy protection that it filed for in a U.S. court on October 20. The company has until January 14 to find a buyer to avoid winding up under Chapter 7 rules. Any prospective buyer would have until February 4 to complete the deal.

November 30, 2010 - 7:06am

Gulfstream International Group, the parent company of Fort Lauderdale, Fla.-based ­Gulfstream International Airlines, entered Chapter 11 ­bankruptcy protection last month in an effort to restructure its debt and secure long-term ­financing. ­Gulfstream said it has arranged for up to $5 million in debtor-in-possession (DIP) financing from Chicago-based ­Victory Park Capital Advisors and that it ­anticipates no effect on its flight schedules.

November 30, 2010 - 3:54am

Financial records at French air ­charter operator Blue Line are being scrutinized following the company’s compulsory liquidation on October 6 with debts of €37 million ($52 million). The suddenness of the 200-employee company’s demise prompted the judge in charge of the liquidation to tap a certified public accountant to investigate Blue Line’s financial affairs. A preliminary report is to be released by year-end.

November 29, 2010 - 10:39am

Emivest Aerospace’s Chapter 11 bankruptcy reorganization filing on October 20 revealed that the company has until January 14 to find a buyer or could face Chapter 7 liquidation. Any prospective buyer of the manufacturer of the SJ30 light jet would have until February 4 to close the deal.

November 4, 2010 - 12:03pm

Emivest Aerospace’s Chapter 11 bankruptcy reorganization filing late last month revealed that the company has until January 14 to find a buyer or could face Chapter 7 liquidation. Any prospective buyer of the manufacturer of the SJ30 light jet would have until February 4 to close the deal.

November 4, 2010 - 11:33am

Gulfstream International Group, the parent company of Fort Lauderdale, Fla.-based Gulfstream International Airlines, filed for Chapter 11 bankruptcy protection today in an effort to restructure its debt and secure long-term financing. Gulfstream said the filing, registered with the U.S. Bankruptcy Court for the Southern District of Florida, would not affect its flight schedule.

October 27, 2010 - 7:04am

San Antonio-based Emivest Aerospace, manufacturer of the SJ30 light jet, announced on October 20 that it petitioned for restructuring under Chapter 11 of the U.S. bankruptcy code. Under the plan, Emivest Aerospace will continue to operate normally with debtor-in-possession financing. The company said it will continue to support the four customer aircraft that are being operated in the U.S. and internationally.

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.

 
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