Friday, 21 August 2009

Eclipse lives again

As expected, the bankruptcy judge dealing with the demise of Eclipse accepted the only bid for the company's assets yesterday (August 20).

The $40m bid was put together by two deposit holders, Mason Holland and Mike Press. The way is now clear for the company to reopen on September 1 with Eclipse's assets and no debts. The 'original' Eclipse burnt through an estimated $1.7 billion before closing down.

Holland and Press have no plans to restart production immediately, but will concentrate on bringing the existing fleet up to spec (the assets include the DayJet fleet), and on supplying parts and service to existing owners.

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