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Eclipse Aviation Auction Date Set

Eclipse Aviation Auction Date Set

Court records say a public auction of Eclipse Aviation Corp. will be held Jan. 14 if there is more than one bid for the trouble jet manufacturer.

The auction is part of a restructuring plan the maker of the six-seat Eclipse 500 proposed after filing for Chapter 11 bankruptcy protection Nov. 25 in U.S. Bankruptcy Court in Delaware.

An affiliate of ETIRC Aviation, Eclipse´s largest shareholder, plans to buy the company for $ 198 million.

The deadline for bids is Jan. 13.

The auction is being held a week later than the date Eclipse proposed.

Dan Guyder, a partner with Eclipse´s law firm, Allen & Overy LLP, says the later date, which allows the company to market and conduct the sale, was due to a week´s delay in court proceedings.

/ Новости