More 'Signs Of The Times?' Quicksilver Declares Itself 'Insolvent' | 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-
Monday

Airborne Unmanned-
Alt. Wednesdays

Airborne Flight Training-Alt. Wednesdays

Airborne Unlimited-
Friday

Airborne Special Programs!
Airborne-YouTube  Airborne Unlimited--08.10.20 Airborne-Unmanned--08.05.20   NEW! Airborne-Flight Training--07.29.20 Airborne Unlimited--08.07.20  The 2020 Avionics Innovation Preview!

Airborne On ANN

Airborne Unlimited--08.10.20

Airborne-Unmanned--08.05.20

NEW! Airborne-Flight Training--07.29.20

Airborne Unlimited--08.07.20

Airborne's Annual April 1st Episode

Tue, Oct 20, 2015

More 'Signs Of The Times?' Quicksilver Declares Itself 'Insolvent'

Company Was Significant Part of Sport Aviation History

ANN has been sent a letter on behalf of Quicksilver Aeronautics indicating that the company, first known on the Sport Aviation scene as an early manufacturer of powered hang gliders over 4 decades ago, is currently insolvent.

According to Shulman, Hodges and Bastian, LLP, they are the, "insolvency counsel for Quicksilver Aeronautics, LLC, a Delaware limited liability company." The firm notes that the letter serves as "formal notice that (i) Quicksilver has elected to voluntarily wind up and dissolve the company; and (ii) Quicksilver has voluntarily commenced the winding up of its business affairs."

Attorney Leonard Shulman further states that, "Quicksilver determined that it had no going concern value to preserve and that it had insufficient assets to operate. Quicksilver intends to liquidate the balance of its assets, pay off any secured and priority creditors (i.e., tax authorities) and then to the extent any funds are left, shall pay unsecured creditors on a pro rata basis. As such, there will be no distribution of dividends to any member."

According to the same letter, the dissolution process could take 30-90 days.

Where this leaves the intellectual property of the company and the potential future of the Quicksilver line is as yet unknown, but company officials have promised calls on Tuesday to provide additional info.

We'll keep you updated.

FMI: www.quicksilveraircraft.com

 


Advertisement

More News

ANN FAQ: Follow Us On Instagram!

Get The Latest in Aviation News NOW on Instagram Are you on Instagram yet? It's been around for a few years, quietly picking up traction mostly thanks to everybody's new obsession >[...]

Airborne-Flight Training 07.29.20: King Schools, TPS Commandant, Diamond DA40s

Also: Pakistan License Scandal, United A/L Pilots, Sterling Adds Frasca, King Schools Giveaway King Schools has been busy these last few months, despite the ravages of a global pan>[...]

Classic Aero-TV: Quite The Match! - Daher Completes Quest Aircraft Acquisition

From 2019: Establishing A Complete Scope Of U.S. Industrial Activities Daher has finalized its purchase of Quest Aircraft, bringing the Kodiak utility aircraft into its stable. The>[...]

Airborne-Unmanned 08.05.20: VSR700 Flies, QF-16 Target, EHang 216 CA FltOps

Also: XPONENTIAL 2020 Goes Virtual, FCC Fines Hobbyking, Drones Protect Sea Turtles, King Schools Giveaway The prototype of Airbus Helicopters’ VSR700 UAS has performed its f>[...]

Klyde Morris (08.08.20)

Klyde Clearly Points Out The Major Differences Between Apollo and SpaceX FMI: www.klydemorris.com>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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