Bankruptcy

May 7, 2008 - 5:23am

HAS Corp, the Dallas and Mount Pleasant, Pa.-based helicopter resale and completions center, has filed for Chapter 11 bankruptcy protection. A leading U.S. EMS and police helicopter customization house, HAS said it has become the victim of adverse business conditions and has filed Chapter 11.

March 25, 2008 - 11:24am

The next chapter for bankrupt Adam Aircraft will start Friday, April 4, when the start-up aircraft manufacturer’s bulk assets are set to be auctioned. According to an Adam Aircraft bankruptcy Web site set up for creditors and “other interested parties,” those hoping to buy the company have until Thursday, April 3, to submit a minimum bid of $10 million.

March 25, 2008 - 6:51am

Among the bits of information flowing from the February 15 bankruptcy of Adam Aircraft Industries is a petition filed by Adam attorney Frances Cetrulo and acting secretary and CFO Christopher Naro warning of an “imminent danger” to the public resulting from the company’s sudden shutdown.

February 27, 2008 - 5:51am

On February 15, Adam Aircraft voluntarily filed Chapter 7 bankruptcy in the U.S. Bankruptcy Court for the District of Colorado, bringing an official end to the Englewood, Colo.-based start-up aircraft manufacturer after it ceased operations on February 11 (see page 1). In the filing, Adam Aircraft lists more than 200 creditors, $50 million to $100 million in liabilities and between $1 million and $10 million in assets.

February 23, 2008 - 4:07pm

As more students come forward to say they believe they were swindled by the country’s biggest civil helicopter flight school, attorney general offices in several states are looking into the activities surrounding the bankruptcy of Silver State Helicopters.

February 19, 2008 - 9:49am

On Friday, Adam Aircraft voluntarily filed Chapter 7 bankruptcy in the U.S. Bankruptcy Court for the District of Colorado, bringing an official end to the Englewood, Colo.-based start-up aircraft manufacturer after it ceased operations on Monday last week. In the filing, Adam Aircraft lists more than 200 creditors, $50 million to $100 million in liabilities and between $1 million and $10 million in assets.

February 19, 2008 - 9:49am

On Friday, Adam Aircraft voluntarily filed Chapter 7 bankruptcy in the U.S. Bankruptcy Court for the District of Colorado, bringing an official end to the Englewood, Colo.-based start-up aircraft manufacturer after it ceased operations on Monday last week. In the filing, Adam Aircraft lists more than 200 creditors, $50 million to $100 million in liabilities and between $1 million and $10 million in assets.

February 14, 2008 - 10:56am

Several state attorneys general are looking into the activities surrounding the bankruptcy of Silver State Helicopters and its founder, Jerry Airola. Silver State, the largest civilian helicopter school in the U.S., closed its doors on February 3 and filed Chapter 7 (liquidation) bankruptcy the following day. The school employed 750 people and had 2,500 students and 250 helicopters at 33 locations in 14 states.

February 14, 2008 - 10:56am

Several state attorneys general are looking into the activities surrounding the bankruptcy of Silver State Helicopters and its founder, Jerry Airola. Silver State, the largest civilian helicopter school in the U.S., closed its doors on February 3 and filed Chapter 7 (liquidation) bankruptcy the following day. The school employed 750 people and had 2,500 students and 250 helicopters at 33 locations in 14 states.

January 11, 2008 - 5:40am

German airframer Extra Flugzeugbau of Hunxe entered insolvency last month, similar to Chapter 11 bankruptcy in the U.S.

 
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