A US bankruptcy court judge has voided the deal to sell the assets of Stoddard-Hamilton Aircraft (SHAI), manufacturer of the two-seat Glasair and GlaStar kitplanes, to the Anduril private investment fund.
The decision comes less than four months after the original $850,000 sale was agreed. (Flight International, 5-11 September).
The judge cited Anduril's failure to close the deal. Representatives of the investment fund in turn cited SHAI's failure to reach agreement with GlaStar's designer Arlington Aircraft Development (AAD) on the rights to the aircraft.
SHAI hopes a new buyer will come forward at a court hearing set for 18 December. The company, meanwhile, has filed a lawsuit contesting ownership of the GlaStar design, which was developed by AAD but manufactured and marketed by SHAI.
German manufacturer OMF Aircraft recently certificated its GlaStar-based piston single, the OMF-160 Symphony.
Source: Flight International