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 Unlimited -- Recent Daily Episodes

Episode Date

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 05.04.15

Airborne 04.28.15

Airborne 04.29.15

Airborne 04.30.15

Airborne 05.01.15

Airborne Hi-Def On YouTube

Airborne 05.04.15

Airborne 04.28.15

Airborne 04.29.15

Airborne 04.30.15

Airborne 05.01.15

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 05.01.15: Blue Origin Flies!, ForeFlight 7, Farewell Ashley!

Also: New Airborne Host Brianne Cross, NTSB Won't Reopen 'Big Bopper' Case, Barnstorming, Dava Newman, NASA Budget, Star Wars UAVs, 757 Bug Research Blue Origin’s Jeff Bezos >[...]

Klyde Morris (05.04.15)

Klyde Can't Take The Strain Of The Kentucky Derby... and Funny Hats FMI: www.klydemorris.com>[...]

Aero-News: Quote Of The Day (05.04.15)

"Ryanair confirms that it has investigated a fraudulent electronic transfer via a Chinese bank last week... The airline has been working with its banks and the relevant authorities>[...]

Swiss Postal Service Mulls Delivery By UAV

Authorized By The Government To Test Home Mail Delivery System Imagine that, instead of a truck pulling up in front of your house or a person walking up onto your front porch to de>[...]

Aero-News: Quote Of The Day (05.03.15)

"The 777-300ER forms the backbone of our long-haul fleet. We operate the largest 777-300ER fleet in Asia, and this super-efficient long haul aircraft allows us to operate multiple >[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2015 Web Development & Design by Pauli Systems, LC