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Air Line Bankruptcy,

This is a settlement for the Bankruptcy lawsuit.

Tucson, AZ: (Dec-13-07) Global Aircraft Solutions Inc., a Tucson based company, brought charges against BCI Aircraft Leasing, the managing partner of the JetGlobal Joint Venture, over its stake in a Delta Air Lines bankruptcy claim. Sources close to the case stated that the company's interest in JetGlobal's Delta bankruptcy claim is a result of a settlement agreement announced between BCI, JetGlobal and Global on April 20, 2007. Records show that in September 2007 Global, the parent of aircraft maintenance provider Hamilton Aerospace Technologies, said it acquired an additional 20% interest in Global Aircraft Leasing Partners, bringing its total stake in the aircraft leasing venture to 40%. As part of the settlement agreement reached, BCI Aircraft Leasing agreed to pay out Global's 18% interest in four monthly payments of $150,000 each, resolving the dispute. [ARIZONA DAILY STAR: AIRLINE BANKRUPTCY]


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Published on Dec-17-07


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