Direct Air Bankruptcy – Case Update
Today, April 11, 2012, the bankruptcy court order Direct Air's chapter 11 bankruptcy converted to one under chapter 7.
In chapter 7 a case trustee will be appointed and will be responsible for collecting all assets of Direct Air, liquidating the assets to cash and to the extent possible paying back valid claims of creditors with said cash.
This decision by the court will effectively end Direct Air's operation.
