JetSuite jet card Archives

Bankruptcy court approves JetSuite’s reorganization plan

September 4, 2020September 10, 2020by Doug Gollan

The approval of JetSuite’s Chapter 11 reorganization comes after opposition from the Trustee overseeing the case and charges the private jet operator had become a Ponzi scheme

(Updated Sept. 8, 2020) JetSuite may fly again. At least that’s the possible outcome now. The judge overseeing the Chapter 11 confirmed the company’s reorganization plan, according to Ted Gavin, managing director of Gavin Solmonese. Gavin serves as the private jet charter operator’s chief restructuring officer. The hearing took place this morning in Delaware.

Continue reading “Bankruptcy court approves JetSuite’s reorganization plan”

JetSuite refutes customers who allege a Ponzi scheme

August 31, 2020September 1, 2020by Doug Gollan

A pair of JetSuite SuiteKey jet card members contend wrongful conduct and breach of fiduciary duties

“JetSuite will fly again,” says its chief restructuring officer, debating the Trustee’s allegation that the private jet operator’s bankruptcy is a liquidation and not a restructuring

Just when it looked like JetSuite’s Chapter 11 bankruptcy filing was about to move quickly through the courts, it may have hit a pair of speed bumps.

Continue reading “JetSuite refutes customers who allege a Ponzi scheme”

Trustee objects to JetSuite’s bankruptcy reorganization plan

August 27, 2020August 27, 2020by Doug Gollan

JetSuite’s Chapter 11 reorganization plan is “not feasible,” according to the trustee

The trustee overseeing JetSuite’s Chapter 11 bankruptcy is urging the judge to reject the company’s proposed plan. The filing today came hours before the deadline for objections and ahead of a scheduled Sept. 3rd court date.

Continue reading “Trustee objects to JetSuite’s bankruptcy reorganization plan”

JetSuite SuiteKey members offered 15% of balances in JSX credits

June 26, 2020June 27, 2020by Doug Gollan

80% of the credits will be good for discounts of 32.5% to 55% on JSX’s scheduled flights

In a filing with the bankruptcy court released earlier this evening, Superior Air Charter, known as JetSuite, revealed its offer to SuiteKey jet card members. The filing shows these customers had $49.5 million of flight credits when the Phenom 300 operator shut down in April.

Continue reading “JetSuite SuiteKey members offered 15% of balances in JSX credits”