Old 12-03-2018, 05:28 PM
  #6  
MCRN
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Joined APC: Jul 2018
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Originally Posted by MaxMar View Post
Can't sue for a contract when you're out of business! /s

Not entirely accurate. If a company becomes insolvent due to mismanagement or it's operating license is revoked (Air Carrier Cert.) then it goes into receivership and the attorneys representing the company's principles can will and do go after money owed to the company. They can do this until the receivership process is completed and the company is legally dissolved. A corporate bankruptcy is almost always accompanying a receivership. In larger operations that takes years, so my son would be at risk for legal action even if the company was put out of business by the FAA who can't actually put a company out of business, they can only revoke any certificates, LOA, operating authorities etc.

Believe it or not the loss of a Part 135 Cert. doesn't always kill a company. While they would have to surrender operational control many continue on by having another certificate holder do the charter work for the aircraft they own.

Last edited by MCRN; 12-03-2018 at 05:54 PM.
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