Seaplane Debtor 1, Inc. (f/k/a ICON Aircraft, Inc.) was a light-sport aircraft manufacturer founded in 2006 and known for the ICON A5 amphibious sport plane, headquartered in Vacaville, California with a 300,000 sq. ft. production facility in Tijuana, Mexico. The company and three affiliates filed Chapter 11 petitions on April 4, 2024 in the District of Delaware (Case No. 24-10703) before Judge Craig T. Goldblatt, carrying approximately $170.4 million in unsecured funded debt and no prepetition secured debt, after manufacturing tooling bottlenecks, regulatory delays, litigation costs, and a failed out-of-court process left the company unable to reach breakeven production volumes despite having delivered only 209 A5 aircraft by end of 2023. FeiRen International Co., Ltd. provided a $9 million DIP facility at 15% PIK to fund an expedited going-concern section 363 sale process. SG Investment America, Inc., a subsidiary of ShangGong Group Co. Ltd., served as stalking horse bidder and acquired substantially all assets for $13 million cash plus assumed liabilities, with the sale closing August 2, 2024 and the new entity continuing to operate under the ICON Aircraft name. The Fourth Amended Joint Chapter 11 Plan of Liquidation was confirmed on December 11, 2024 and became effective January 1, 2025, with post-effective administration via a plan administrator and a litigation trust. Three affiliate cases were closed via final decree in June 2025, while the lead case remains open with an estimated final decree application date of December 31, 2027.