Today's Message Index:
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1. 09:07 AM - Re: CZAW bankruptcy - suggestion to CZAW dealers and cutomers (Bob_anderson)
2. 09:09 AM - Re: Official Czech-List FAQ (Frequently Asked Questions) (Bob_anderson)
Message 1
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| Subject: | Re: CZAW bankruptcy - suggestion to CZAW dealers and cutomers |
No more SportCruiser.
It is official. CZAW is now officially bankrupt! Danny and Chip have not been telling
you the truth.
CZAW had an agreement with Zenair Ltd of Canada for the manufacturing of the Zodiac and STOL aircraft for Europe. This agreement was canceled because CZAW started making its own copies of the aircraft. CZAW owes millions of US dollars to suppliers and Zenair. It is very likely that Chip Erwin and Danny from www.sportaircraftworks.com will go to jail!
There is no way that people will get their money back on deposits. You need to
read the latest documents from the court.
http://www.matronics.com/archive/archive-get.cgi?Czech-Archive.digest.vol-aa
CZAW is now officially bankrupt. Chip Erwin and Danny need to be in jail!
Regional Court in Brno
Husova 15
601 95 Brno
File no. KSBR 44 INS 1207/2008
In Prague on 26 May 2008
XVII.
Conclusion
The Debtor (or its executive Mr. Ch. W. Erwin) is currently solving the dismal
situation of the company by selling work in progress (i.e. products which
have
been allocated a manufacturing number and for which the customers have already
paid advances) to any customer who is willing to pay in cash (without delivering
the products to customers who have duly paid advances for them). The above
practices of the Debtor were supported by the submission of Mr. Leonardo
do
Sayago of AEROMARINE, Lda, which was served on the insolvency court on 23
May
2008 (a Czech translation of this submission shall be presented by the Petitioner
to the insolvency court in the nearest future). The biggest customer with
whom the Debtor currently cooperates on this basis is Sprite Aviation.
By such conduct, the Debtor, or its executive, exposes himself to potential
criminal
prosecution. At the same time, such conduct of the Debtor damages the assets
and significantly reduction possible satisfaction of the Debtor's creditors.
The Debtor currently lacks sufficient security of its manufacturing facilities,
due to which it is threatened by potential embezzlement and theft, resulting
in decrease of the assets from which the creditors should be satisfied.
The Petitioner believes that, based on the foregoing, it is in the interest
of
all involved parties (creditors and members)
to appoint a preliminary insolvency trustee,
who will provide objective information about the Debtor's management and
will ensure
further operation of the company within the necessary period in accordance
with the existing possibilities.
Such preliminary trustee should be charged, in particular, with taking steps
necessary
to identify and to secure the Debtor's assets. Furthermore, the preliminary
trustee should be charged with a review of the Debtor's books of account
(which show a number of fundamental discrepancies). At the same time, it
would
be appropriate for the preliminary trustee to direct the Debtor's conduct
and
to handle the assets in a way preventing any further damage to the creditors
caused by the Debtor's conduct.
It is important that anyone involved with CZAW in any way read the details, which
are posted at:
http://www.matronics.com/archive/archive-get.cgi?Czech-Archive.digest.vol-aa
AIRCRAFT ENTERPRISES LTD.
holding 4515 votes, the member SLAVIA CAPITAL AERO (SC AERO) LIMITED holding
4965 votes, and the member Trihold Limited holding 540 votes. For any resolution
to be adopted, a 67% majority of all the votes of all members was always
required.
What is important here is that Chip and Danny of Sport Aircraft Works are the owners
of AIRCRAFT ENTERPRISES LTD. in Belize!!
Read this topic online here:
http://forums.matronics.com/viewtopic.php?p=187166#187166
Message 2
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| Subject: | Re: Official Czech-List FAQ (Frequently Asked Questions) |
No more SportCruiser.
It is official. CZAW is now officially bankrupt! Danny and Chip have not been telling
you the truth.
CZAW had an agreement with Zenair Ltd of Canada for the manufacturing of the Zodiac and STOL aircraft for Europe. This agreement was canceled because CZAW started making its own copies of the aircraft. CZAW owes millions of US dollars to suppliers and Zenair. It is very likely that Chip Erwin and Danny from www.sportaircraftworks.com will go to jail!
There is no way that people will get their money back on deposits. You need to
read the latest documents from the court.
http://www.matronics.com/archive/archive-get.cgi?Czech-Archive.digest.vol-aa
CZAW is now officially bankrupt. Chip Erwin and Danny need to be in jail!
Regional Court in Brno
Husova 15
601 95 Brno
File no. KSBR 44 INS 1207/2008
In Prague on 26 May 2008
XVII.
Conclusion
The Debtor (or its executive Mr. Ch. W. Erwin) is currently solving the dismal
situation of the company by selling work in progress (i.e. products which
have
been allocated a manufacturing number and for which the customers have already
paid advances) to any customer who is willing to pay in cash (without delivering
the products to customers who have duly paid advances for them). The above
practices of the Debtor were supported by the submission of Mr. Leonardo
do
Sayago of AEROMARINE, Lda, which was served on the insolvency court on 23
May
2008 (a Czech translation of this submission shall be presented by the Petitioner
to the insolvency court in the nearest future). The biggest customer with
whom the Debtor currently cooperates on this basis is Sprite Aviation.
By such conduct, the Debtor, or its executive, exposes himself to potential
criminal
prosecution. At the same time, such conduct of the Debtor damages the assets
and significantly reduction possible satisfaction of the Debtor's creditors.
The Debtor currently lacks sufficient security of its manufacturing facilities,
due to which it is threatened by potential embezzlement and theft, resulting
in decrease of the assets from which the creditors should be satisfied.
The Petitioner believes that, based on the foregoing, it is in the interest
of
all involved parties (creditors and members)
to appoint a preliminary insolvency trustee,
who will provide objective information about the Debtor's management and
will ensure
further operation of the company within the necessary period in accordance
with the existing possibilities.
Such preliminary trustee should be charged, in particular, with taking steps
necessary
to identify and to secure the Debtor's assets. Furthermore, the preliminary
trustee should be charged with a review of the Debtor's books of account
(which show a number of fundamental discrepancies). At the same time, it
would
be appropriate for the preliminary trustee to direct the Debtor's conduct
and
to handle the assets in a way preventing any further damage to the creditors
caused by the Debtor's conduct.
It is important that anyone involved with CZAW in any way read the details, which
are posted at:
http://www.matronics.com/archive/archive-get.cgi?Czech-Archive.digest.vol-aa
AIRCRAFT ENTERPRISES LTD.
holding 4515 votes, the member SLAVIA CAPITAL AERO (SC AERO) LIMITED holding
4965 votes, and the member Trihold Limited holding 540 votes. For any resolution
to be adopted, a 67% majority of all the votes of all members was always
required.
What is important here is that Chip and Danny of Sport Aircraft Works are the owners
of AIRCRAFT ENTERPRISES LTD. in Belize!!
Read this topic online here:
http://forums.matronics.com/viewtopic.php?p=187167#187167
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