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In February 2009, Rocketplane vacated its Oklahoma City headquarters building. According to Oklahoma State Representative David Dank, Rocketplane no longer has any presence in the state, but they left with no debt owing to Oklahoma. Rocketplane filed for Chapter 7 bankruptcy and liquidation in July 2010. [4]
Terms of an employee contract negotiated over years can be eliminated in months through Chapter 11. Terms of the Railway Labor Act, amended in 1936 to cover airlines, prevent most labor union work actions before, during and after an airline bankruptcy. Continental Airlines declared bankruptcy, Chapter 11, a second time in December 1990.
Chapter 7 bankruptcy can stay on your credit reports for 10 years, while Chapter 13 bankruptcy only stays on your reports for seven years. However, the impact on your credit score will lessen over ...
Chapter 13 bankruptcy: Chapter 13 allows a distressed debtor who has regular income, and total secured and unsecured debt of no more than $2,750,000, to maintain control of their assets while ...
Chapter 7 bankruptcy. Leslie Tayne, attorney and founder of Tayne Law Group in Melville, New York, says you’re eligible for a mortgage a few years after a Chapter 7 discharge of debt.
According to Oklahoma State Representative David Dank, Rocketplane no longer has any presence in the state, but Rocketplane has paid all of its taxes and has no outstanding debts which is remarkable for a company to accomplish this while going bankrupt. Rocketplane filed for Chapter 7 bankruptcy and liquidation in July 2010. [4]
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