ONE Aviation Corporation, along with eleven subsidiaries and affiliates, has filed a petition for relief under chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-12309).  ONE Aviation, based in Albuquerque, New Mexico, is an aircraft manufacturer that was formed by the 2015 merger between Eclipse Aerospace and Kestrel Aircraft.  ONE Aviation has filed with a prepackaged plan of reorganization, which is supported by ONE Aviation’s senior pre-petition lender, Citiking International US LLC.  One Aviation is seeking to hold a combined hearing on November 19, 2018 to approve its Disclosure Statement and confirm the prepackaged plan.  According to the First Day Declaration, the prepackaged plan contemplates a debt for equity swap, with Citiking receiving 100% of the Class A common stock in the reorganized ONE Aviation.  Epiq is the proposed claims and noticing agent.  The cases have been assigned to the Honorable Christopher S. Sontchi.

Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter.