SOUTHERN AIR TRANSPORT

Case Highlights

• Analyzed and pursued collection of company's intangible assets
• Negotiated sale of aircraft fleets, aircraft parts and ground support equipment

Case Narrative

Southern Air Transport was an international air cargo carrier that maintained its home base in Columbus, Ohio. DSI was appointed as Responsible Party for the Debtor in the Chapter 11 of Southern Air Transport, Inc.  when the Debtor was unable to conclude a sale of the business as a going-concern.  DSI managed the process for the sale of Southern Air’s fleet of Nine (9) Lockheed L100 cargo aircraft and its substantial inventory of Lockheed L100, Boeing 747 and McDonnell Douglas DC-8 aircraft parts and ground support equipment.  DSI assisted in the formulation of a Liquidating Plan and subsequently took the position of Liquidating Trustee. DSI then pursued insurance claims, accounts receivable, fraudulent transfers, preferential transfer claims and assisted in the support and prosecution of substantial litigation against parties holding the Debtor’s assets. Finally, DSI reconciled/confirmed all claims filed and ultimately made distributions to the unsecured creditors of approximately 75% of their approved claim.