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36th Annual Bankruptcy Institute Statewide CLE Meeting

On November 22nd and 23rd, 2013, Partners James “Jim” Talcott, Dirk Siegmund, Samantha Brumbaugh, and Darren McDonough, along with associates Charles “Chuck” Ivey IV and Justin Kay attended the 36th Annual Bankruptcy Institute’s Statewide CLE Meeting, located at the Hilton Wilmington Riverside in Wilmington, North Carolina. Several interesting topics were discussed, including topics on the application of the 4th Circuit’s case of In re Maharaj on Individual Chapter 11 cases, collection of judgments and sanction awards from debtors and creditors, and contested confirmation battles, among others. The attending partners and associates were pleased with the fantastic seminar put on by the Bankruptcy Section of the North Carolina Bar Association. The Firm had a good time learning new materials to be used in cases moving forward, catching up with other pratictioners across the state of North Carolina, and look forward to the next Statewide Bankruptcy meeting in Asheville, NC next year.

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November 2013 News

opus-aircraftOn November 15, 2013, the Firm attended an auction of Opus Aircraft, LLC (“Opus”). Opus is the manufacturer of Special Light Sport Aircrafts in Rockingham County, North Carolina. The Opus Aircraft was designed and created by Sir Richard Novel with the help of British Aerospace (builders of the Concord Airliner). Sir Richard also designed and built the world’s fastest car, The Thrust SSC. The company produces the Super 2 which is a Special Light Sport Aircraft. The Auction included all assets of the company for one bid in a “Sealed Bid Format”, which included a completed airplane with air worthiness certificate and current registration, another 98% completed airplane, four partially completed air frames, all structural jigs, all 1/3 million spare parts, all drawings, plans, copyrights, patterns, accessories and equipment. The auction was performed by Iron Horse Auction Company. While the auction did not produce a big that satisfied the necessary qualifications, Iron Horse is continuing to pursue a sale of the company’s assets. The Firm looks forward to the fantastic work of Iron Horse, and the wonderful sales result we know is likely to result.

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