Judge Orders Avantair Liquidation

Bankruptcy trustee seeks company records.

Avantair

Avantair

The doors to Clearwater, Florida-based Avantair are locked to everyone except a court-appointed bankruptcy trustee after a judge this week ordered an involuntary Chapter 7 filing as the first step in liquidating the troubled company.

The bankrupt fractional ownership firm failed to meet a deadline last week to contest the Chapter 7 action as concerns were raised about the whereabouts of Avantair financial records. The FAA, meanwhile, has suspended the airworthiness certificates of many Avantair Piaggio Avantis, some under emergency authorizations, with several airplanes described as missing major components such as engines and propellers.

The Avantair bankruptcy trustee is now requesting all relevant business documents, e-mails, phone logs, and bank records after offices at the company’s headquarters were allegedly emptied of their contents without court approval early this month.

Amid mounting financial difficulties, Avantair grounded its fleet twice since last October before shutting down operations and furloughing employees in July.

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