Creditors to meet May 18 in Narco bankruptcy
A meeting has been scheduled for May 18 with creditors of bankrupt avionics manufacturer Narco Avionics in Philadelphia, Pa.
Philadelphia attorney Arthur P. Liebersohn, the trustee in the bankruptcy case, told AOPA in an email message May 17 that more information would be available following the session with creditors of the 65-year-old Fort Washington, Pa., company.
Some AOPA members whose radios were under repair at Narco when news circulated in April that the company had closed its doors have been trying to learn how to recover their units. Since then, both the Narco website and telephone number have only provided a short message assuring customers that a trustee would be named to liquidate assets, and that their property would be returned.
Narco’s president, Alan Hanks, deferred comment on the proceedings when contacted by AOPA May 16. Hanks said, however, that reports on websites that former employees had set up a new venture to work on company products were inaccurate.
May 17, 2011