Chapter 7, Title 11, United States Code

March 31, 2011 - 5:50am

The bankruptcy trustee for debtors associated with JetDirect Aviation filed a complaint on February 20 that could force FBOs, charter operators, maintenance providers and other vendors to refund thousands of dollars for services that they provided and for which they received payment. In early 2009, when Sunset Aviation, Inc.

March 15, 2011 - 12:49pm

The bankruptcy trustee for debtors associated with JetDirect Aviation filed a complaint on February 20 that could force FBOs, charter operators, maintenance providers and other vendors to refund thousands of dollars for services that they provided and for which they received payment. In early 2009, when Sunset Aviation, Inc.

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.

June 2, 2009 - 6:46am

JetChoice, a Little Canada, Minn.-based membership charter company, voluntarily filed for Chapter 7 bankruptcy (liquidation) last month. The filing lists assets of $5.4 million, $4 million owed to creditors holding secured claims, $465,695 owed to creditors holding unsecured priority claims and $21.3 million owed to unsecured creditors.

May 7, 2009 - 12:13pm

A petition for bankruptcy under the Chapter 7 code was filed by JetDirect Aviation with the U.S. bankruptcy court in Delaware last Friday, listing liabilities of $100 million to $500 million. The filing noted that “there will be no funds available for distribution to unsecured creditors.” A meeting of creditors is scheduled for June 18 in Wilmington, Del.

December 1, 2008 - 5:34am

Per-seat, on-demand very light jet (VLJ) air-taxi firm DayJet on November 14 filed for Chapter 7 bankruptcy (liquidation), just four days after company founder Ed Iacobucci expressed doubt at a VLJ air-taxi conference (see page 40) that the Boca Raton, Fla.-based charter operator would be resurrected.

November 20, 2008 - 11:03am

Per-seat, on-demand very light jet (VLJ) air-taxi firm DayJet last Friday filed for Chapter 7 bankruptcy (liquidation), just four days after company founder Ed Iacobucci expressed doubt at a VLJ air-taxi conference that the Boca Raton, Fla.-based charter operator would be resurrected.

July 7, 2008 - 9:41am

Englewood, Colo.-based Aviation Technology Group filed Chapter 7 bankruptcy in May to liquidate its assets. The company, which had been developing the two-seat Javelin and a military trainer version of the twinjet, suspended development of the VLJ program in late December since it wasn’t able to secure the needed additional funding. ATG laid off about 100 employees at that time.

June 3, 2008 - 11:36am

Englewood, Colo.-based would-be very light jet manufacturer Aviation Technology Group recently filed Chapter 7 bankruptcy to liquidate its assets. The company, which had been developing the two-seat Javelin and a military trainer version of the twinjet, suspended development of the VLJ program in late December since it wasn’t able to secure the needed additional funding.

March 31, 2008 - 11:57am

Adam Aircraft’s suspension of operations on February 11 was followed by a Chapter 7 bankruptcy filing on February 15, which means the company will be liquidated. Although Lynn Tilton, CEO of MD Helicopters, suggested at February’s Heli-Expo that her company’s financial backers might be interested in purchasing Adam’s assets, no developments along those lines have taken place.

 
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