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Evergreen Aviation
Evergreen International Aviation, Inc. was a global aviation services company based in McMinnville, Oregon, United States. Founded in 1960, Evergreen was primarily known publicly for commercial helicopter operations in agricultural and forestry applications. The airline division, Evergreen International Airlines, operated worldwide, in 168 countries, and by the end had been reduced to a fleet of all-cargo Boeing 747 freighters. The company also operated a helicopter division, Evergreen Helicopters which was sold to Erickson Air-Crane, an Oregon-based helicopter operator, for $250 million in 2013. Faced with bankruptcy and tax investigations, Evergreen ceased all aviation-related operations in 2013 and shut down in 2014. History Delford M. Smith founded the company as Evergreen Helicopters in 1960. Smith was involved in the development of the commercial use of helicopters, and his company was one of the first to use helicopters for spraying fertilizer and herbicides, spreading s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chapter 7, Title 11, United States Code
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the United States. This is in contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of ''reorganization'' of a debtor. Chapter 7 bankruptcy is the most common form of bankruptcy in the US. For businesses When a financially troubled business is unable to pay creditors, the business may file (or be compelled by creditors to file) for bankruptcy in a federal court under Chapter 7, which means that the business ceases operations unless those operations are continued by the Chapter 7 trustee. In a Chapter 7 bankruptcy, the trustee is appointed almost immediately, with broad powers to examine the finances of the business in bankruptcy; generally, the trustee sells the assets and distributes the money to the creditors. The investors who took the least amount of risk prior to the bankruptcy are generally paid first. For example, sec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |