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FINANCIAL NEWS
Emivest requests a longer bankruptcy protection
30 Jan 2011
(MENAFN) Emivest, the Dubai aerospace company with facilities in the US, said that it is working on arranging its possessions and hoping to be given a longer bankruptcy protection by American courts until the middle of summer, reported The National.
Emivest Aerospace had previously filed for bankruptcy protection with the US district court in Delaware. However, it recently decided to file a formal bankruptcy reorganization plan, therefore, requested an extension until mid-May and until mid-July so that the plan could be accepted by creditors.
It is worth noting that a number of international companies expressed interest in buying Emivest’s assets, one of which is China Aviation Industry General Aircraft (CAIGA).
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