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.