Case filing & court posture: Corporate Air, LLC and six affiliated entities filed chapter 11 on September 29, 2025 in the Western District of Pennsylvania (Case No. 25-22602). Dkt. 1 Judge Carlota M. Melaragno presides. The debtors operated a fixed base operator (FBO) providing aviation services at Allegheny County Airport near Pittsburgh before filing.
Liquidity & financing path: Stalking horse bidder Vantage AGC, LLC provided up to $4.5 million in DIP financing, approved on an interim basis October 1, 2025. Dkt. 76 The DIP facility supported operations during the restructuring process while Vantage pursued acquisition of substantially all assets.
Restructuring outcome: The debtors pursued a plan-based 363 sale to Vantage AGC, LLC for $6.8 million cash consideration. Dkt. 358 The plan was confirmed on December 15, 2025, with general unsecured creditors projected to recover 3.9-4.7% from a $500,000 GUC fund.
Plan effective date & post-confirmation: The plan became effective on January 2, 2026. Dkt. 358 The plan established a litigation trust and provided for wind-down of the estates post-closing of the asset sale to Vantage.
