Author Topic: Spruce Goose Museum Evergreen Vintage Files For Bankruptcy  (Read 1324 times)

Offline The Big Gimper

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Offline raafif

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Re: Spruce Goose Museum Evergreen Vintage Files For Bankruptcy
« Reply #1 on: December 16, 2014, 04:52:08 AM »
bad news, sounds like bad management ?  Will the US end up like Britain where most private aircraft museums cannot survive ?  I think they need something special like vintage flying days to draw the crowds (a Mars in the air would get me there ;) ).

But there is always the strange ideas of bankruptcy in the US ... ie it's just a ploy to get around legal technicalities ?

Re: Spruce Goose Museum Evergreen Vintage Files For Bankruptcy
« Reply #2 on: December 16, 2014, 07:42:04 PM »
This is always a bad news... and I thought this is something that happens only in my country  :(

 At a moment, Museum of aviation located at Belgrade International Airport ''Nikola Tesla'' is suffering from dispute in between Serbian Ministry of defense and Museum's management, while in its depot stands some aircrafts desperately waiting for restoration. There are P-51D, P-38, but above all - there's the only world's surviving italian Fiat G.50bis. At museum's yard there are over 50 aircrafts that many enthusiasts would gladly purchase like Soko G-2 Galeb or at least they could be traded with other museums for something...

But, no... There are always some greedy politicians that would somehow profit from the situation  :icon_twisted:
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or take me as I am,
for I shall not change...
never...

Offline jcf

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Re: Spruce Goose Museum Evergreen Vintage Files For Bankruptcy
« Reply #3 on: December 17, 2014, 05:13:57 AM »
bad news, sounds like bad management ?  Will the US end up like Britain where most private aircraft museums cannot survive ?  I think they need something special like vintage flying days to draw the crowds (a Mars in the air would get me there ;) ).

But there is always the strange ideas of bankruptcy in the US ... ie it's just a ploy to get around legal technicalities ?


It's all related to business dealings of the Smith family and the collapse of Evergreen Air and Supertanker last year. Also according to some sources the Evergreen museum still owed money
for the Spruce Goose.

There are several different types of bankruptcy, in this case they've filed under Chapter 11 which covers a reorganization, as opposed to Evergreen Air filing Chapter 7, a liquidation bankruptcy.
The word bankruptcy is more broadly applied in the US, but as far as companies are concerned the legal processes are similar to UK and Oz processes covering liquidation and administration.

http://en.wikipedia.org/wiki/Chapter_11,_Title_11,_United_States_Code
"Evil our grandsires were, our fathers worse;
And we, till now unmatched in ill,
Must leave successors more corrupted still."
Horace, 65BC - 8BC. Marsh translation.

Offline jcf

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Re: Spruce Goose Museum Evergreen Vintage Files For Bankruptcy
« Reply #4 on: February 08, 2015, 02:26:58 AM »
Museum statement from Dec. 15, 2014:

McMinnville, OR - We are aware that Evergreen Vintage Aircraft, LLC has filed for reorganization under Chapter 11 of the bankruptcy law. That company is a separate for-profit company. The Evergreen Aviation and Space Museum is an independent non-profit organization. Most of our Museum’s collection of over 180 aircraft and artifacts are owned by the Museum or are on loan from federal government agencies. Our Museum does have 25 aircraft and vehicles on loan from Evergreen Vintage Aircraft, LLC. These remain on loan. We are continuing to lease the Theater building, which is owned by Evergreen Vintage Aircraft LLC. Our Museum continues to operate as before. We have no other comment to make at this time.

"Evil our grandsires were, our fathers worse;
And we, till now unmatched in ill,
Must leave successors more corrupted still."
Horace, 65BC - 8BC. Marsh translation.