Wichita Parts Manufacturer Files For Chapter 11 Bankruptcy | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

** Airborne/NBAA2014 10.24.14 ** HD iPad-Friendly -- Airborne/NBAA2014 10.24.14 **
** Airborne/NBAA2014 10.22.14 ** HD iPad-Friendly -- Airborne/NBAA2014 10.22.14 **
** Airborne/NBAA2014 10.21.14 ** HD iPad-Friendly -- Airborne/NBAA2014 10.21.14 **
** Airborne/NBAA2014 10.20.14 ** HD iPad-Friendly -- Airborne/NBAA2014 10.20.14 **

Fri, Apr 22, 2011

Wichita Parts Manufacturer Files For Chapter 11 Bankruptcy

L&T Machining Will Reorganize After Falling Behind On Taxes

A parts manufacturer which does business with aerospace companies in Wichita, KS, has filed for bankruptcy protection under Chapter 11 after falling behind on its taxes.  L&T Machining will reorganize its business and restructure its tax debt, which had climbed to $286,993, according to court documents. Company attorney David Eron told the Wichita Eagle that the filing was primarily to restructure the tax debt and move forward. He said there is plenty of work coming in, but not enough to pay off the IRS in a lump sum.

The tax agency had placed liens of everything the company owned, so income was being diverted to satisfy tax debt. In the court papers, the company says it has secured financing to allow it to cover purchase orders it has in house ... and generate some additional revenue to begin to service its IRS debt.

The company's website indicates it was started by two brothers in 1999. They service clients in the aerospace, automobile, agricultural, and electronic industries.

FMI: www.ltmachining.com

Advertisement

More News

Airborne 10.24.14: AML's Innovations, NASA Preps For Mars, LightHawk Saves

Also: AW609 Pilots Honored, Airbus' VIP Cabin, FreeFlight's FTX-200, Quicksilver S-LSA Milestone During our visit this week to NBAA 2014, Jim Campbell had a chance to talk with Mar>[...]

Airborne at NBAA-10.22.14: Legacy 500, Universal InSight, BendixKing AeroWave

Also: GE Honda, Sagem's Active SideStick, Syberjet Update, Techno Aerospace Knows How to Party The FAA handed over certification papers for Embraer's Legacy 500 executive jet durin>[...]

Airborne 10.24.14: AML's Innovations, NASA Preps For Mars, LightHawk Saves

Also: AW609 Pilots Honored, Airbus' VIP Cabin, FreeFlight's FTX-200, Quicksilver S-LSA Milestone During our visit this week to NBAA 2014, Jim Campbell had a chance to talk with Mar>[...]

AD: Pacific Aerospace Limited Airplanes

AD NUMBER: 2014-21-02 PRODUCT: Pacific Aerospace Limited Model FU24-954 and FU24A-954 airplanes.>[...]

ANN's Daily Aero-Linx (10.25.14)

The Canard Zone An online forum by and for owners and builders of canard aircraft.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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