Current posture

What matters now

Avenger Flight Group is now in the claims-administration phase of a liquidation case: the claims agent filed a register as of the July 10 effective date, while the only later scheduled omnibus hearing was cancelled. Claims register Dkt. 525 Cancelled hearing agenda Dkt. 523 Avenger and its affiliates entered Chapter 11 in February to pursue a sale of their aviation-simulation and flight-training business after a heavily leveraged expansion was compounded by reduced A320neo training demand, customer insolvencies, operational defaults, and governance turnover. The debtors identified approximately $286.1 million in funded debt, led by a first-lien term loan, and sought to preserve operations through a lender-backed sale process. First-day declaration Dkt. 33 The proposed bridge was a senior secured DIP facility providing $14.5 million of new money and a $29 million roll-up, with cash-collateral use and sale milestones structured around a prompt Section 363 transaction. DIP financing motion Dkt. 12 After the sale was approved, the debtors moved to a liquidation plan that would place net proceeds in a litigation trust, with general unsecured creditors and prepetition lenders sharing proceeds 40%…

Updated Aug 9, 2026