Wed, Mar 05, 2008
New Braunfels Muni Stuck With $113,000 In Bills
Once bitten... twice shy. The
fallout continues following the February 3 shutdown of Silver
State Helicopters... and one south Texas community says it will be
a lot more cautious about who it trusts in the future.
New Braunfels City Manager Mike Morrison told the Herald-Zeitung
newspaper Monday the city will no longer extend significant lines
of credit for fuel sales at New Braunfels Municipal Airport (BAZ),
after being stuck with a $73,677 bill for a line of credit extended
to SSH prior to its declaration of Chapter 7 liquidation.
"We’ve taken steps to make sure it doesn’t happen in
the future," said Morrison. "We recognized that it was not a sound
business practice and have changed our policies to safeguard
against it happening again."
The fuel credit was extended to Silver State from late-November
2007 through mid-February. As ANN reported, the
nationwide helicopter training and charter outfit shut its doors on
Super Bowl Sunday, and filed a petition for Chapter 7 the next day.
New Braunfels is but one of over 3,000 creditors seeking
compensation in the court case.
In addition to the fuel bill, Silver State also racked up
outstanding lease payments for a control tower at BAZ, and the
hangar it occupied since arriving at the airport in 2005 -- plus
unpaid utility bills and various fees. In all, the city is owed
$113,289.80, according to the newspaper.
For the moment, the contract control tower -- necessary to
safely handle the large volume of rotorcraft traffic while SSH was
in operation -- is still open, costing the city about $4,000 per
week.
The city voted February 25 to retain a Las Vegas-based law firm
to represent its interests in federal bankruptcy court.
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