ALBUQUERQUE (KRQE) - Friday, a federal bankruptcy court judge in Delaware opened ahearing on the proposed sale of Albuquerque based EclipseAviation.
The bankrupt jet maker was supposed to go to public auctionWednesday, but the auction was cancelled because Luxembourg basedETIRC Aviation was the only qualified bidder.
ETIRC is the largest shareholder in Eclipse, and if theacquisition goes through, the company plans to make changes.
News 13 has learned that ETIRC plans to change Eclipse's name,and is also asking the court to approve a plan where the companywould pay those with secured loans 15 percent of their investmentback.
There have been several objections to the proposed sale, andsources tell News 13 that one of the potential holdups involves 30jets in production, because those planning to buy the jets havepaid deposits.
The judge is being asked to decide if these planes should belongto the buyers or if they should become the property of ETIRC alongwith the rest of Eclipse's assets.
News 13 is still trying to find out more on the future of thecompany, including the security of Eclipse's Albuquerque jobs.
If the Eclipse sale goes forward, its buyer plans to build amanufacturing plant in Russia, while keeping the Albuquerque basedplant.
Stay with KRQE News 13 for continuing coverage on a potentialsale of Eclipse Aviation.
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