United States bankruptcy law

May 16, 2008 - 5:28am

Tyler Jet Aircraft Sales, hit hard by the downturn in the economy last year and the aftermath of September 11, is expected to emerge from reorganizing under Chapter 11 bankruptcy proceedings within the next 60 days, according to v-p and general manager Orville Winover. Tyler Jet Aircraft Sales was forced into Chapter 7 in February, but in March the bankruptcy court granted Tyler’s motion to put the case under Chapter 11.

May 7, 2008 - 11:54am

VisionAire, now operating under Chapter 11 bankruptcy, is focusing its efforts on obtaining additional funding. “We’re continuing discussion with several different sources,” said a spokesman, “two of which are European investment syndications.” In August, VisionAire was forced into Chapter 7 involuntary liquidation by a group of five creditors, including two former members of its board of directors.

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.

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 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 14, 2008 - 6:28am

The federal court judge presiding over VisionAire’s Chapter 11 bankruptcy and reorganization apparently found sufficient merit in one or both investment offers the company presented in court on January 9, one a memorandum of agreement and the other a letter of intent, that he granted a continuance until January 21.

October 31, 2007 - 11:56am

Aspen, Colo.-based AEXjet ceased operations for two weeks last month while the transactions for entering into a “business combination” with an unidentified operator were finalized. The charter company voluntarily filed for Chapter 11 bankruptcy protection on September 14, and CEO John Gallaher released a statement at that time assuring customers and employees that operations would continue.

 
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