Aviation News Item: 00927

21st Oct 2009

Source: fly-corporate.com

AeroMechanical Services Ltd. ("AMS") has successfully bid to acquire the assets of Wingspeed Corporation, Concord, Massachusetts, USA - a privately held Corporation that was placed in Chapter 7 bankruptcy on 17 August 2009.

The United States Bankruptcy Court for the District of Massachusetts (the "Court") in Worcester, Massachusetts, approved AMA's bid to acquire all Wingspeed assets for a price of USD$250,000, free and clear of liens and encumbrances. A closing on the sale is expected on or about 26 October 2009. The Court had previously appointed AMA as manager for the Chapter 7 bankruptcy trustee until the sale is closed.

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