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 07.23.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 07.23.14 **
** Airborne 07.21.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 07.21.14 **
** Airborne 07.18.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 07.18.14 **

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

FAA Extends NOTAM For Ben Gurion International Airport

Adds 24 HoursTo Ban On US Flights To Tel Aviv The FAA has issued another Notice to Airmen (NOTAM) informing U.S. airlines that Tuesday's NOTAM flight remains in effect for Israel's>[...]

Airborne 07.23.14: Garmin's 7 Inch Touch, Equusearch v FAA, Andreini Family Sues

Also: GA Investment, Bud and Ross Granley, C-9 Farewell, Jepp FlightDeck, How To Find ANN At Oshkosh Garmin’s “Team X” is dedicated to experimental aircraft avion>[...]

ANN's Daily Aero-Linx (07.24.14)

Abandoned & Little Known Airfields Obviously the author's labor of love, "Abandoned & Little Known Airfields" is a listing by state of airstrips either off the beaten path,>[...]

ANN's Daily Aero-Term (07.24.14): Peak Gust

The highest instantaneous wind speed observed or recorded.>[...]

Aero-News: Quote Of The Day (07.24.14)

"Participation at the Oshkosh airshow has become a staple for NTSB investigators and staff.” Source: NTSB Acting Chairman Christopher A. Hart.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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