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News

Aloha Files Suit Against AMA


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AeroMechanical Services
: 24 May, 2010  (Company News)
AeroMechanical Services is being taken to court over payments it received prior to Aloha bankruptcy
It has been reported that Aloha Airlines has filed suit against AeroMechanical Services (AMA). AMA wishes to clarify that the non-material suit was filed by the trustee for Aloha as part of preference claim undertakings that claim that AMA received payments prior to the bankruptcy of Aloha which were preferential to other creditors. AMAs US bankruptcy lawyers have reviewed the claim and are satisfied that the payments received by AMA were not made preferentially. Rather than engaging in a drawn out court action, AMA has offered a settlement amount of $10,000.00 USD which is subject to the authorization and approval of the applicable bankruptcy court. Indications from the trustee have led AMA to believe that the proposed settlement will be accepted. The decision of the bankruptcy court is expected in approximately 30 to 60 days.

In addition, in the interest of keeping shareholders up to date, AMA will be posting on its website a quarterly Investor Brief.
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