Quicksilver gone. From ANN

[Guest asmol]

More 'Signs Of The Times?' Quicksilver Declares Itself 'Insolvent'

 

Company Was Significant Part of Sport Aviation History

 

ANN has been sent a letter on behalf of Quicksilver Aeronautics indicating that the company, first known on the Sport Aviation scene as an early manufacturer of powered hang gliders over 4 decades ago, is currently insolvent.

 

According to Shulman, Hodges and Bastian, LLP, they are the, "insolvency counsel for Quicksilver Aeronautics, LLC, a Delaware limited liability company." The firm notes that the letter serves as "formal notice that (i) Quicksilver has elected to voluntarily wind up and dissolve the company; and (ii) Quicksilver has voluntarily commenced the winding up of its business affairs."

 

Attorney Leonard Shulman further states that, "Quicksilver determined that it had no going concern value to preserve and that it had insufficient assets to operate. Quicksilver intends to liquidate the balance of its assets, pay off any secured and priority creditors (i.e., tax authorities) and then to the extent any funds are left, shall pay unsecured creditors on a pro rata basis. As such, there will be no distribution of dividends to any member."

 

According to the same letter, the dissolution process could take 30-90 days.

 

Where this leaves the intellectual property of the company and the potential future of the Quicksilver line is as yet unknown, but company officials have promised calls on Tuesday to provide additional info.

 

 

[fly_tornado]

So many used quicksilvers on the market, it would be hard to justify a new one.

 

 

[Guest ozzie]

I have been reading this today on the Magnificent Men facebook page. What a great shame seems maybe due to the expense of having to certify the two seaters to LSA standards.

 

 

[Guest ozzie]

So many used quicksilvers on the market, it would be hard to justify a new one.

So many still flying in the US.

 

 

[planet47]

A few in Australia too - mine included

 

 

[fly_tornado]

hopefully, someone will pickup the IP and start producing parts for them

 

 

[Downunder]

They got a contract for 77 to China middle of last year. Thought they would be ok.

 

 

[fly_tornado]

chinese customers may have not paid.

 

 

[Guest ozzie]

http://www.flyingmag.com/aircraft/lsasport/quicksilver-aircraft-ceases-production

[Teckair]

That is disapointing news.

 

 

[Guest ozzie]

AOPA takes a deeper look at the problems.

 

http://www.aopa.org/News-and-Video/All-News/2015/October/21/Quicksilver-dissolves-aviation-market-looking-flat?WT.mc_id=151023epilot&WT.mc_sect=fin