Luton-based private jet firm faces liquidation
The Luton Airport-based company which has offices in Russia, Italy and the UAE has called for a creditors’ meeting, to take place in Manchester tomorrow (Friday 7th September). The meeting is expected to see the appointment of Stephen Clancy and Sarah Bell, both of leading global financial advisory and investment banking firm Duff & Phelps as Joint Liquidators to the companies.
The companies are part of a larger group whose ultimate parent company is Ocean Sky Group Holdings Limited. All three companies - Ocean Sky Aviation Limited, Ocean Sky Aircraft Charter Limited, Ocean Sky Aircraft Management Limited – ceased trading on 21 August 2012 when it was agreed that they were insolvent and unable to pay their debts.
The remaining companies within the group – Ocean Sky Group Holdings Limited and Ocean Sky Aircraft Leasing Limited, are unaffected by this process and are continuing to trade as normal.
Stephen Clancy, Duff & Phelps, stated: “The director has called the creditors’ meeting for September 7th 2012 and he has made a specific recommendation to creditors that they appoint Joint Liquidators to these three specific operating companies,”
“The businesses have been unable to pay their debts as they fall due. The director has been investigating alternative options but concluded that the interests of creditors are best served by the appointment of Joint Liquidators,” he added.
Happier days: Ocean Sky's CEO at the opening of a Dubai facility less than two years ago.
