Columbia Owners To Band Together For Bankruptcy Representation | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

** Airborne 09.29.14 ** HD iPad-Friendly -- Airborne 09.29.14**
** Airborne 09.26.14 ** HD iPad-Friendly -- Airborne 09.26.14 **
** Airborne 09.24.14 ** HD iPad-Friendly -- Airborne 09.24.14 **

Mon, Oct 01, 2007

Columbia Owners To Band Together For Bankruptcy Representation

The president of the "Club Columbia" aircraft owner's group, Chuck Yanke, has sent a messaage to affected parties seeking help in organizing an effort to make sure that their interests are represented in the upcoming Chapter 11 bankruptcy actions involving Columbia Aircraft.

(Disclosure Statement: in which Aero-News is also a creditor... and got burned for a pretty hefty amount of cash... ouch).

Yanke states that, "By now most of you have learned that CAM has declared bankruptcy, Chapter 11, and Cessna has an offer to buy CAM. This is not a done deal, there will be an auction in November were anyone can bid. Currently our members have approximately $10 million dollars of products that they have paid for and not received. This does not include your 3 or 5 year warranty provide by CAM. We as a group are one of the larger unsecured creditors. No one on the bankruptcy court is looking out for the owners interests. Individually we will have no standing in the court but together we have a fighting chance. The club is blessed with excellent members in the legal profession and we believe the club can make a difference and help protect your airplane. The club has spoken with Jack Pelton, CEO of Cessna and he supports our position."

Yanke adds that, "To protect the future value of your plane, your warranty and all the items that you have paid for and not yet received, we need legal representation. The club has no money, we only have your $50/year membership fees. We need to raise $15-20,000 immediately If every member will contribute $300 we can make it happen. This is a small investment to protect your $500,000+ asset."

FMI: http://www.lancairpilots.org/payments.php, Club Columbia Legal Fund, % Richard Page, 1508 Byron Nelson Pkwy, Southlake TX 76092.

Advertisement

More News

Airborne 09.29.14: Young Eagle Tragedy, Overdue Hoover Honors, Paperplane Record

Also: Low-Flying F16, UAVs For The Movie, Aerobatic Pilot Bails Out, Bombardier Safety Stand Down, MVP Takes On The World We are sad to report that a Young Eagle flight went down o>[...]

Airborne 09.29.14: Young Eagle Tragedy, Overdue Hoover Honors, Paperplane Record

Also: Low-Flying F16, UAVs For The Movie, Aerobatic Pilot Bails Out, Bombardier Safety Stand Down, MVP Takes On The World We are sad to report that a Young Eagle flight went down o>[...]

Airborne 09.26.14: A320neo First Flight, Aspen ESV Trial, Garmin Flies G5000

Also: Sea Lynx Grounding, AEA's Ric Peri On FAR 145, Union v Allegiant, Wingboarding--Anyone? Things went off as planned in Toulouse, France yesterday morning when the A320neo made>[...]

ANN's Daily Aero-Linx (09.30.14)

DOT Rule for Passengers Traveling with Lithium Batteries The issue has come to the forefront as more people may soon begin traveling with small UAVs, most of which are powered by t>[...]

ANN's Daily Aero-Term (09.30.14): Filed En Route Delay

Any of the following preplanned delays at points/areas along the route of flight which require special flight plan filing and handling techniques.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC