Unsecured creditor

June 29, 2009 - 11:58am

In U.S. Bankruptcy Court on June 18, General Motors won approval to end the leases on its fleet of jets, which includes two Gulfstream Vs and five Gulfstream IVs. The court also voided the automaker’s lease on a hangar at Detroit Metropolitan Airport. No one contested the court’s decisions; in fact, a lawyer for GM’s unsecured creditors supported them.

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 - 12:45pm

JetChoice, a Little Canada, Minn.-based membership charter company, voluntarily filed for Chapter 7 bankruptcy (liquidation) last Friday. JetChoice’s holding company, Corsair Aviation, also owns Capitol Wings of Austin, Texas, and ACM Aviation of San Jose, Calif.

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.

March 12, 2009 - 11:58am

JetDirect Aviation has now placed two of its subsidiary companies into bankruptcy. The first was Regal Jets of Dallas, placed into Chapter 11 bankruptcy on February 25. On Friday, JetDirect placed Novato, Calif. charter operator Sunset Aviation Inc. into Chapter 7 liquidation. JetDirect Aviation had furloughed all Sunset Aviation Inc.

March 12, 2009 - 9:43am

JetDirect Aviation has now placed two of its subsidiary companies into bankruptcy. The first was Regal Jets of Dallas, placed into Chapter 11 bankruptcy on February 25.

On Friday, JetDirect placed Novato, Calif. charter operator Sunset Aviation, Inc. into Chapter 7 liquidation.

November 25, 2008 - 11:18am

Just days after Eclipse Aviation achieved two key milestones–EASA and Avio NG 1.5 certification–the pioneering VLJ manufacturer this morning filed for Chapter 11 protection in U.S. Bankruptcy Court in Delaware. At the same time, Eclipse Aviation entered into an agreement to sell “substantially all of its assets” to an affiliate of Etirc Aviation of Luxembourg.

 
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