Here’s the backdrop of today’s update on the LSA seaplane sector as summer approaches.
According to Law360, an online legal news source, “Light-Sport Aircraft manufacturer Icon Aircraft filed for Chapter 11 protection in Delaware bankruptcy court with more than $170 million in debt and plans for an asset sale and liquidation.” You may have read (here) that Icon got an initial offer of $13.5 million. As an industry contact told me for the earlier report, “That would hardly make a dent in their liabilities.” The person was right, it appears. A proposed new buyer referenced in the earlier article agreed to
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