Zetta Jet USA
The firm represented the creditors’ committee in the chapter 11 cases of Zetta Jet USA and Zetta Jet PTE. Zetta Jet operated twenty aircraft that provided private flight operations for international business and luxury travel, with ultra-long range intercontinental capabilities across the Pacific Rim. The commencement of Zetta Jet’s chapter 11 cases were predicated on the alleged fraud of one of the founders. As a result, a chapter 11 trustee was appointed to stabilize operations and attempt to develop a business plan that could be bridged to a sale or plan of reorganization. While the chapter 11 sought financing and investors, the firm was instrumental ensuring that the interests of unsecured creditors were preserved and not sold out through a financing proposal left unsecured creditors with nothing. In the end, the chapter 11 trustee’s business plan and marketing efforts were not successful and the company discontinued operations.
