Cirrus Fights Rumors | 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

Airborne Unlimited-

Airborne Unlimited-

Airborne Unlimited-

Airborne On ANN

Airborne Unlimited--04.06.20

NEW! Airborne-Flight Training--04.08.20

Airborne Unlimited--04.10.20


Airborne Unlimited--04.06.20

NEW! Airborne-Flight Training--04.08.20

Airborne Unlimited--04.10.20

Tue, Mar 23, 2010

Cirrus Fights Rumors

L-3 Charges That Cirrus Is Near Insolvency

Cirrus Design has filed a lawsuit in federal court against L-3 Communications Avionics Systems, charging that L-3 is falsely spreading rumors about Cirrus' financial status.

The suit charges that L-3 has told other suppliers that Cirrus is heading towards bankruptcy, and that they should end supply relationships with the company. Cirrus said recently that it has survived the worst of the recession that has caused sales to falter industry-wide. But if the company is not able to get parts from suppliers, "Cirrus will be unable to meet it production requirements, will not be able to deliver aircraft to its customers and will be forced to lay off hundreds of employees," the suit says.

The Minneapolis Star-Tribune reports that the suit asks that L-3 be prevented from contacting other companies that do business with Cirrus, and seeks unspecified damages.

The dispute between the two companies cropped up last May when L-3 filed suit against Cirrus, claiming it owed nearly $19 million under a 2007 supply agreement. That case has not yet been heard.

Cirrus charges that L-3 has also contacted Bahrain-based Arcapita Capital, Cirrus' largest investor, to say it had been asked to participate in an involuntary bankruptcy filing against Cirrus. In its suit, Cirrus states that Arcaptia has "no present intention" to force Cirrus into bankruptcy.



More News

Boeing to Temporarily Suspend Philadelphia Area Operations

Facility Produces H-47 Chinook And V-22 Osprey Aircraft For Defense Customers Boeing is temporarily suspending production operations at its facilities in Ridley Township, Pennsylva>[...]

EAA, Sporty’s Open Doors To Aviation For More Than 75,000 Young People

Online Learning Option Sees Big Jump Among EAA Young Eagles Another milestone was reached by the Experimental Aircraft Association this month, as a total of 75,000 Young Eagles hav>[...]

Aero-News: Quote of the Day (04.07.20)

“The health and safety of our employees, their families and our communities is our shared priority.” Source: Boeing Commercial Airplanes President and CEO Stan Deal.>[...]

FAA Releases Updated Guidance For Airport Sponsors And CARES ACT FAQs

Covers A Range Of Topics Of Interest To The Aviation Industry The FAA has issued guidance to FAA inspectors about factors to consider when determining how to best utilize assets ou>[...]

Boeing Extends Temporary Suspension Of Puget Sound Production Operations

Will Continue To Implement Additional Health And Safety Measures At Its Facilities To Protect Employees Boeing is extending the temporary suspension of production operations at all>[...]

blog comments powered by Disqus





© 2007 - 2020 Web Development & Design by Pauli Systems, LC