A Dubai aerospace company with facilities in the US is seeking to dispose of its assets and has asked American courts to extend its bankruptcy protection until the middle of summer.
Emivest Aerospace, which makes the SJ30 light jet, filed for bankruptcy protection in October with the US district court in Delaware and has been looking to sell its assets before a deadline set by the courts for next month.
But last week lawyers for the company asked for an extension until mid-May to file a formal bankruptcy reorganisation plan, and until mid-July for creditors to accept the plan.
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