Silver State Helicopter Lawsuit Could Have Far-Reaching Implications | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-04.01.24

Airborne-Unlimited-04.16.24

Airborne-FlightTraining-04.17.24 Airborne-Unlimited-04.11.24

Airborne-Unlimited-04.12.24

Join Us At 0900ET, Friday, 4/10, for the LIVE Morning Brief.
Watch It LIVE at
www.airborne-live.net

Wed, Dec 19, 2012

Silver State Helicopter Lawsuit Could Have Far-Reaching Implications

Bank That Made Student Loans Now Subject Of Appeal Hearing

A lawsuit that stemmed from the bankruptcy of Las Vegas-based Silver State Helicopter could have implications for the banking industry as it continues to move through the Ninth Circuit of the U.S. Court of Appeals in California.

Last Friday, an 11-judge panel heard arguments that Cleveland, Ohio-based Keybank should have known that the flight school was teetering on the edge of insolvency when it made loans to about 100 Silver State students. When the school closed and entered bankruptcy in 2008, some of those students had just written tuition checks of up to $23,000 towards the $70,000 charged by the school per year. While many banks forgave the debts, Keybank, one of the nation's 20 largest, did not.

According to the Riverside, CA, Press-Enterprise, the Ninth Circuit declined to hear the case two years ago, saying the students should abide by arbitration ... which often favors corporation. But the court decided two months ago that it would hear the case, and arguments were made last Friday. At issue is whether forcing the students to accept the decision of an arbitrator is detrimental to consumer protection. Either way, it could be a decision with far-reaching implications.

There is no timeline for when the court might rule on the case.

FMI: www.ca9.uscourts.gov

Advertisement

More News

ANN's Daily Aero-Term (04.14.24): Maximum Authorized Altitude

Maximum Authorized Altitude A published altitude representing the maximum usable altitude or flight level for an airspace structure or route segment. It is the highest altitude on >[...]

ANN's Daily Aero-Linx (04.14.24)

Aero Linx: Soaring Safety Foundation (SSF) The Soaring Safety Foundation (SSF) is the Training and Safety arm of the Soaring Society of America (SSA). Our mission is to provide ins>[...]

Classic Aero-TV: 'We're Surviving'-- Kyle Franklin Describes Airshow Life 2013

From 2013 (YouTube Version): Dracula Lives On Through Kyle Franklin... and We're NOT Scared! ANN CEO and Editor-in-Chief, Jim Campbell speaks with Aerobatic and airshow master, Kyl>[...]

Aero-News: Quote of the Day (04.14.24)

“For Montaer Aircraft it is a very prudent move to incorporate such reliable institution as Ocala Aviation, with the background of decades in training experience and aviation>[...]

Airborne 04.09.24: SnF24!, Piper-DeltaHawk!, Fisher Update, Junkers

Also: ForeFlight Upgrades, Cicare USA, Vittorazi Engines, EarthX We have a number of late-breaking news highlights from the 2024 Innovation Preview... which was PACKED with real ne>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC