Bode Aero Services claims the retaliation occurred after it "declined to provide free or discounted air service" to Mayor Martin Chávez for his brief senatorial bid in 2007. The suit doesn't provide any specifics about the claim.All of the Bode hubbub got us thinking about other Aerospace legal proceedings. In this case bankruptcy proceedings involving Eclipse Aviation. You know we've always wondered about the viability of a company built on the concept of selling personal jets. It's not like jets were ever an everyday purchase for your average family. But hey, if there's a market... But apparently there really isn't.
In any case, a few weeks back we received documents from the Delaware bankruptcy proceedings involving Eclipse Aviation. A little disclaimer here. We have been unable to independently verify these documents but they appear to be authentic and if they are the city and the Almighty Alcalde have a lot of splainning to do. (You can view the documents here.)
You see according to these court documents, Eclipse Aviation is holding a large amount of property owned by the City of Albuquerque. What's most disturbing is that much of the listed items seem to our admittedly untrained eyes to be specialized equipment that the city has no business owning. For example a $128,496 MTS for fatigue and metals testing, a $56,472 LPT laser projection system, and the coup de gras, three paint booths worth over $2.5 MILLION. And those aren't even the highlights.
From these documents it appears there are millions of dollars of equipment in the possession of bankrupt Eclipse Aviation that appear to be owned by the city - much of it specialized equipment.
It looks to us like there are two possibilities here. One is that Eclipse is using a whole bunch of specialized equipment courtesy of the City of Albuquerque (that's all of us who pay taxes in Albuquerque) or two, Eclipse is using the city to shelter assets from creditors in a bankruptcy proceeding. The latter could be criminal, the former... could be criminal -either way, there's a lot of trouble in the air and a lot of splainning to do.
----- Update -----
This is the best explanation that we've heard (or shall we say read):
Those are the items purchased with Industrial Revenue Bonds (gross receipts tax free). The City has "bare legal" title to them under the IRB system, but does not really own them. They will likely be sold to pay off Eclipse's creditors.All of which makes perfect sense, except... we don't see the bond repayment listed in the creditors section. If the city has "bare legal" title, then the city has ultimate responsibility for repayment of the bond.-Anonymous