Adam Aircraft, which filed for Chapter 7 bankruptcy in February, had about $5.1 million in income from operations in 2006 and $2.8 million in 2007, according to a statement of financial affairs.
The filing noted that Duncan Koerbel, the company’s former president, received $300,000 in severance pay in November 2007.
According to a personal property filing, the company has $1,252.08 of cash on hand and $173,008.63 in financial accounts, among other assets.
A listing of the suits that Centennial Airport-based Adam Aircraft has been a party to included a suit filed Feb. 12 by George F. “Rick” Adam, who founded the company, against Adam Aircraft based on the company’s “failure to materially complete the terms of a contract for a manufacturing facility in Pueblo.”
Kelly Yamanouchi: 303-954-1488 or kyamanouchi@
