The process begins with a thorough assessment of the aircraft and related assets to determine their condition, value, and marketability. A detailed plan is developed for the orderly liquidation, taking into account factors such as market conditions, potential buyers, regulatory requirements, and timelines.
Aircraft and related assets are marketed to potential buyers through various channels, including industry publications, online listings, and direct outreach to potential purchasers. Sales efforts may involve auctions, negotiated sales, or sales through brokers or specialized aircraft dealers.
Potential buyers conduct due diligence on the aircraft to assess its airworthiness, maintenance history, legal status, and other relevant factors. Negotiations take place between sellers and buyers to agree on terms, including price, delivery schedules, and any conditions of sale.
Once a sale is finalized, the necessary legal and regulatory steps are taken to transfer ownership of the aircraft to the buyer. This may involve obtaining regulatory approvals, completing documentation, and fulfilling any contractual obligations.
In addition to aircraft, other assets such as spare parts, ground equipment, facilities, and intellectual property may also be sold or disposed of as part of the liquidation process.
Once all assets have been liquidated and proceeds distributed, the company or entity undergoing liquidation is typically dissolved, and any remaining debts or obligations are settled. Creditors and stakeholders may receive distributions based on their claims and priorities as determined by applicable laws and agreements.
Orderly liquidation aims to minimize losses and maximize recoveries for creditors and stakeholders while ensuring compliance with legal and regulatory requirements. It involves careful planning, diligent execution, and effective communication with all parties involved in the process.
