Ryan International's Sale to AJet Gets Judge's OK

Law360, New York (February 21, 2013, 6:56 PM EST) -- An Illinois bankruptcy judge on Thursday approved a plan from bankrupt government contractor Ryan International Airlines Inc. to sell its brand and stock to AJet Holdings LLC after failing to find a buyer willing to take the airline as a going concern.

U.S. Bankruptcy Judge Thomas Lynch approved a plan for AJet to pay $800,000 to acquire all of Ryan's stock as well as its name, goodwill and right to continue leasing its office space at its former headquarters in Rockford, Ill.

Ryan, which provided air...
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