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 06.18.13 Aero-TV-- CLICK HERE! ** HD iPad-Friendly Version -- AIRBORNE 06.18.13 **

** AIRBORNE 06.14.13 Aero-TV-- CLICK HERE! ** HD iPad-Friendly Version -- AIRBORNE 06.14.13**

** AIRBORNE 04.01.13 SPECIAL EDITION of Aero-TV-- CLICK HERE! ** HD iPad-Friendly Version -- AIRBORNE 04.01.13 SPECIAL EDITION **

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

Classic Aero-TV: Bob 'Mister FBO' Showalter -- Examining The Future Of Aviation

A True Aviation Pioneer Talks About The Future of GA Originally Webcast, 05.30.12: Even to many who have to compete with him, Bob Showalter is "Mr. FBO." A veteran of decades of se>[...]

AgustaWestland Displays Project Zero Tilt Rotor At Le Bourget

Electric VTOL Aircraft Is Turning Heads In France Among the thousands of aircraft and products on display at the Paris Air Show getting a lot of attention this week is one that may>[...]

ANN's Daily Aero-Linx (06.20.13)

Professional Helicopter Pilots Association This website provides valuable information to helicopter operators, including quick access to TFR maps, Homeland Security bulletins, form>[...]

ANN's Daily Aero-Term (06.20.13): Warm Advection

Transport of warm air into an area by horizontal winds. Low-level warm advection sometimes is referred to (erroneously) as overrunning. Although the two terms are not properly inte>[...]

Aero-News: Quote Of The Day (06.20.13)

“We have clearly heard the voice of scientists and their unanimous recommendations to change the proposal. From now on, nobody can claim ‘We did not know’." Sourc>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2013 Web Development & Design by Pauli Systems, LC