As the liquidation process for the assets of bankrupt Eclipse Aviation drags on, four groups have announced proposals to buy those assets and restart product support and in some cases production for the orphaned Eclipse 500 very light jet. There may be Chinese interest in bidding on the Eclipse assets, too.
No date has been set for the asset auction by the Delaware bankruptcy court. Eclipse Aviation was placed into Chapter 7 (liquidation) bankruptcy on February 24, and since then a variety of competing elements have come forth, offering various ideas to help owners of the 259 Eclipse 500s produced keep their jets flying and buyers who have placed deposits–some totaling hundreds of thousands of dollars–recoup some part of their investment. Under the Chapter 7 liquidation proceeding, it’s unlikely that deposit holders will retrieve any money from the sale of Eclipse Aviation’s assets.
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