Emivest Cleared To Sell Assets For $3.5M

Law360, New York (April 7, 2011, 1:25 PM EDT) -- Private jet maker Emivest Aerospace Corp. won bankruptcy court approval Thursday in Delaware to sell the bulk of its assets to MT LLC for $3.5 million, roughly half the price offered in a deal that fell through last month.

Judge Brendan L. Shannon signed off on the sale at a hearing in the U.S. Bankruptcy Court for the District of Delaware, allowing Emivest to avoid liquidation by the narrowest of margins.

On Wednesday, Judge Shannon was in the process of ruling against the sale, saying he...
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