Eclipse Aviation last week laid the groundwork to sell its assets to its single largest shareholder, European Technology and Investment Research Center (ETIRC), under U.S. bankruptcy protections. Eclipse announced Tuesday that it had filed for Chapter 11 protection under the U.S. Bankruptcy Code and sought court approval for debtor-in-possession (DIP) financing and procedures for the sale of its assets under Section 363 of the Bankruptcy Code. The sale of all of Eclipse assets for a ...
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