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Bankruptcy judge approves sale of Evergreen assets

Business — Jet Midwest will buy 'substantially all' of the airline's planes and parts

A bankruptcy judge approved a deal May 30 that will allow Jet Midwest Inc., a Kansas City company, to buy the inactive operations of Evergreen International Airlines for nearly $4.3 million. Ever­green trustee Alfred Giuliano sought the sale of what he called “substantially all” of Evergreen’s assets.

Judge Mary Walrath of the Delaware Bankruptcy Court — where Evergreen filed for Chapter 7 bankruptcy Dec. 31 — approved the sale, which was being disputed by numerous creditors seeking more than $500 million in debt.

The United States Trustee, which oversees bankruptcy proceedings, also objected to the sale, as well as Multnomah County, which filed a document stating Evergreen still owes $4.6 million in back property taxes and demanding payment from the sale proceeds.

The sale includes five Boeing 747 airplanes, 11 engines and thousands of airplane parts.

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  • 29 Mar 2015

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  • 30 Mar 2015

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