As of June 12, the European Aviation Safety Agency (EASA) has suspended the type certificate of the Eclipse 500. The certification was granted last November after a long delay, four months after Albuquerque, New Mexico-based Eclipse Aviation announced the removal of founder Vern Raburn from control of the company. Four days after receiving EASA approval, Eclipse declared bankruptcy. Eclipse, now in Chapter 7 bankruptcy status, faces significantly downgraded value of its intellectual property to potential buyers. The lack of ability to register and operate the aircraft in the 30 European countries under EASA authority greatly diminishes the potential market for anyone who would attempt to restart production of the Eclipse 500.