Trust law

September 5, 2013 - 11:14am

The trustee overseeing Avantair’s involuntary bankruptcy is seeking a halt to a class-action lawsuit brought against the company on behalf of former employees alleging Fair Labor Standards Act violations for failure to pay for work performed or provide proper termination notification.

September 1, 2013 - 4:45am
Avantair’s Clearwater, Fla. headquarters are currently secured by the bankruptcy trustee. In this photo, the company welcomes employees back to work after last year’s three-week grounding.

The assets of Clearwater Fla.-based Avantair will be sold and the company liquidated after it failed to meet an August 13 deadline to contest an involuntary Chapter 7 filing in the Florida Middle District U.S. Bankruptcy Court in Tampa. Judge Catherine McEwen signed an order during a hearing on August 16 authorizing the case to proceed under Chapter 7.

August 6, 2012 - 2:35am

The FAA extended until August 17 the comment period for its proposed policy regarding the registration of aircraft to U.S. citizen trustees in situations involving non-U.S. citizen trustors and beneficiaries. As part of its review of non-citizen trusts, the FAA published its proposed policy clarification on February 9 on use of non-citizen trusts to register aircraft in the U.S. The FAA also held a public hearing on this subject on June 6 and has now publicly released a slide presentation it made at that meeting. Comments can be sent to ladeana.peden@faa.gov.

June 28, 2012 - 2:20pm

The FAA is extending the comment period until August 17 for its proposed policy regarding the registration of aircraft to U.S. citizen trustees in situations involving non-U.S. citizen trustors and beneficiaries.

June 29, 2010 - 6:36am

In response to scuttlebutt that the FAA had ceased processing aircraft registrations for foreign-owner trusts, the agency sent a letter to a group of stakeholders clarifying that it has not imposed any moratorium on the issuance of pending or future registrations involving non-citizen trusts.

May 18, 2010 - 12:11pm

The FAA has backed away from placing restrictions on non-citizen owner trust registrations of aircraft, according to NBAA and NATA. The FAA on April 30 stopped issuing new aircraft registrations in cases where the registration was to be held by an owner trust with a non-U.S. citizen as the trust beneficiary, citing safety concerns.

May 11, 2010 - 11:53am

The FAA has begun investigating the use of aircraft owner trusts to obtain valid registration where the trust beneficiary is a non-U.S. citizen, and the agency has stopped processing aircraft registrations that are based on the use of non-citizen owner trusts.

 
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