Farnborough-Aircraft.com submits petition for Court Administration.”
The director of Farnborough-Aircraft.com Mr Richard Noble OBE, has submitted administration petition papers to place the F1 Air Taxi Aircraft design company into administration.
The Administration Petition papers will be heard at 10.30am at the High Court London, Court 36 on next Thursday the 23rd of May 2002.
All shareholders, creditors, press and public are entitled to attend the petition hearing.
The proposed Administrator is Mr Paul Finn.
The proposed Administrator is to be funded by Mr Geoffrey Galley a shareholder in the company. Mr Galley has made an offer to purchase the IPR of the company.
The company has Trade debts of about £120,000 (one hundred and twenty thousand pounds) Sterling.
The company was funded by 450 shareholders with funds of 3 million pounds over the past 4 years.
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May 20, 2002 at 10:58 pm