Quote:
Originally Posted by Nevjets
Didn't both RAH and endeavor have DiP in their BKs?
It can be done but it's a fine line...
Too much cash/assets on hand and the law won't let you off the hook on obligations. I think it's also easier for creditors to force liquidation to cash out.
In the past you could file even if you were solvent but trending to losing money. Now you have to be in dire straits, and in danger of liquidation.
Airlines have another hurdle... If you're really broke the FAA can revoke your cert on the premise that you can't afford mx, safety expenses.