It might have seemed like a small semantic point at the time, but customers of OurPLANE are finding out that the planes were never really “theirs” after all. According to the contracts, the titles to the Cirrus SR22s in the program were held by the company, and when it liquidated last week, the “owners” joined the list of other company creditors vying for whatever scraps can be gleaned from bankruptcy hearings scheduled for Nov. 2 in Buffalo. OurPLANE management has defended the fairness of the contract. Former CEO Graham Casson has said terms of the contract included an option for customers to place an FAA lien on the aircraft, and those who chose that option have received their secured funds. He didn’t say how many OurPLANE customers chose that option, but it’s clear that there are several who didn’t, and they’re not content to let the matter rest. Reportedly, a group of more than 30 former OurPLANE customers continues to explore legal action against Casson.
More Pain for OurPLANE ‘Owners’
