August 16, 2017
Lenders to a defunct aircraft leasing company have urged a New York federal judge to make it distribute the last $23.3 million it has on hand to its bondholders, saying the Airplanes Group’s directors have set aside money for “everything but paying their debts.”
May 26, 2017
An airplane leasing company with no airplanes that socked away $190 million it was supposed to return to its lenders was called out Friday by a New York federal judge who said the business had no right to hoard the cash based on an "imagined" Brazilian legal risk and other "vague and conclusory" obligations.