Chapter 11, Title 11, United States Code

May 13, 2012 - 1:30pm

Not quite two weeks after filing for U.S. Chapter 11 bankruptcy protection, Hawker Beechcraft said at EBACE today that it will be “well positioned for the future” when it emerges from bankruptcy this later this year.

“There’s been a lot of misinformation and speculation. We’re going to talk to you about facts,” said Hawker Beechcraft executive vice president of customers Shawn Vick. “Chapter 11 protection should not be confused with liquidation or insolvency. There is simply too much value in Hawker Beechcraft, its people, products and brands to allow that to happen.”

December 15, 2011 - 3:11pm

Norton Property Management, which is owned by Milford Harrison and Scot Spencer, filed for Chapter 11 bankruptcy on December 7.

June 26, 2011 - 12:40pm

The Teamsters union announced in late May that its pilot members from Gulfstream International Airlines agreed to a new five-year labor contract with management. According to a union statement, the new contract provides a “significant increase” in the ability of each pilot to modify his or her own schedule to accommodate personal needs.

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 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.

 
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