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Thu, Oct 27, 2011

Michigan Flight School Assets Sold At Auction

Six Airplanes Sold To The Highest Bidder After Company Fails

A flight school in Allegan, MI has come to something of an ignoble end, and its assets, including six airplanes, were sold at auction this week to cover its debts.

Dodgen Aircraft and Skykid Aviation were grounded earlier this month, their assets siezed by the bank that had financed them. The flight school owned six airplanes when the end finally came, but the Grand Rapids Press reports that one ... a 1974 Piper Warrior ... had no engine.

The bank had reportedly been working with Skykid Aviation for some time, trying to keep them flying. But in the end, the aircraft had to be repossessed and sold. Scott Miedema, the president of Miedema Auctioneering, said it was a pretty unusual repossession job. He told the paper that one of the airplanes was flying when he and representatives of the bank showed up at city-owned Padgham Field (35D) in Allegan. He said the owners of the business were "not happy," but understood the situation and handled it professionally.

Bidding opened on the airplanes at $5,000 each. All of the airplanes, as well as the other assets of the business were sold Tuesday.

FMI: www.orbitbid.com/items.cfm?auction=2053

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