Pioneer Aerospace, dba ASR-Pioneer, Enters 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 Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-02.10.25

Airborne-NextGen-02.11.25

Airborne-Unlimited-02.12.25

Airborne-AffordableFlyers-02.13.25

Airborne-Unlimited-02.07.25

Fri, Nov 03, 2023

Pioneer Aerospace, dba ASR-Pioneer, Enters Chapter 11 Bankruptcy

Parachute Company Was Formerly Known as Aviation Safety Resources

Pioneer Aerospace Corporation, d.b.a. ASR-Pioneer, has declared Chapter 11 bankruptcy and is seeking to sell the company under Section 363 of the Bankruptcy Code.

The parachute manufacturer is a collection of companies, including Pioneer and Strong Parachutes, taken under the wing by former parent Aviation Safety Resources, when it was run by former Boss, Larry Williams... who was booted from the company last year and reportedly suing them for damages. 

The initial filing, in the Middle District Of Florida, Orlando Division, on November 1st raises quite a few questions, especially since the creditor's list seems incomplete and at least one significant shareholder claims to have not been notified about the filing. 

A company spokesperson told ANN that, “Our company has filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code. We are pursuing a sale of the company under Section 363 of the Bankruptcy Code. This was a difficult choice to make but we are hopeful to come out better on the other side.”

The same company official attempted to coerce ANN into not reporting the story -- even though the filing is a public event easily accessed online -- specifically mentioning the potential for future ad business if/when the company recovered. ANN counseled the official that this was not a proper conversation and that we would not be a part of it, whereupon the same official apologized for the ethically challenged request.

FMI: Scott E Bomkamp, Atty For The Office of the United States Trustee, DOJ-Ust, scott.e.bomkamp@usdoj.gov
 

Advertisement

More News

NTSB Final Report: SlipStream International Genesis

Airplane Veered Left Of The Runway And Struck Trees Before It Came To Rest In A Grass Area Analysis: The student pilot was conducting a solo flight when he was unable to keep the a>[...]

ANN's Daily Aero-Term (02.12.25): Navigable Airspace

Navigable Airspace Airspace at and above the minimum flight altitudes prescribed in the CFRs including airspace needed for safe takeoff and landing.>[...]

ANN's Daily Aero-Linx (02.12.25)

Aero Linx: Great Alaska Aviation Gathering At the Alaska Airmen's Association, we're more than just a community; we're a vibrant, passion-driven movement dedicated to safeguarding,>[...]

Aero-FAQ: Dave Juwel's Aviation Marketing Stories -- ITBOA BNITBOB

Dave Juwel's Aviation Marketing Stories ITBOA BNITBOB ... what does that mean? It's not gibberish, it's a lengthy acronym for "In The Business Of Aviation ... But Not In The Busine>[...]

Airborne 02.07.25: ERAU Buys NX Cubs, Able Flight's 100th, DCA Video Arrest

Also: $7B Embraer Buy, Tariff Pause, Air Tour Safety Committee, 1st CA SkyCourier Embry Riddle Aeronautical University recently announced that its flight team, the Golden Eagles, w>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2025 Web Development & Design by Pauli Systems, LC