As if somebody was going to steal it

"C J Campbell"

Anyway, yes, in a bankruptcy it is important to stake your claim in
seizing
the planes before some other creditor does. They could indeed be stolen.
In
fact, airliners have been stolen by creditors before -- flown right off
the
field.

A single guard or cop could prevent this.

"Stolen"? Someone took off from an international airport without clearance?

moo

C J Campbell wrote:

Anyway, yes, in a bankruptcy it is important to stake your claim in
seizing
the planes before some other creditor does. They could indeed be
stolen. In
fact, airliners have been stolen by creditors before -- flown right
off the
field.

I'm not sure how the bankruptcy system works in Canada, but it seems
to me that there must be a more orderly process. Unless the entity
doing the seizing actually owns the aircraft (i.e. leased to the
bankrupt corp.), I can't imagine that they could go around seizing
property that does not belong to them. If that were the case,
creditors could loot the assets of a bankrupt company on a first-come,
first served basis.

I know it doesn't work like that in the U.S. Here, you stake your
claim in bankruptcy court along with all of the other creditors.

John Galban=====N4BQ (PA28-180)