A senior lender of ONE Aviation Corp. asked a judge to block the company’s bid to sell the bankrupt aircraft manufacturing business for $5.25 million, arguing its claim dwarfs the sale amount.
Citiking International US LLC’s claim against ONE Aviation totals $51 million, according to Citiking’s objection filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.
ONE Aviation, which specializes in business aviation aircraft, has a pending deal to sell to AML Global Eclipse LLC. The private sale is necessary “to avoid a value-destructive conversion to Chapter 7 and liquidation of the Debtors’ assets,” according to ONE ...
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