Very Light Jet Deposit-holders Sue Eclipse Leaders

Former deposit-holders for Eclipse 500 very light jets have filed four lawsuits in New Mexico district courts alleging various wrongdoings by Eclipse Aviation executives before the company filed for bankruptcy a year ago. Named in the suits are former Eclipse Aviation leaders, as well as sales and support personnel. One of the suits also lists defendants who were on the Eclipse Aviation board of directors. Eclipse founder, president and CEO Vern Raburn told BJT sister publication Aviation International News that the lawsuits have no basis and were filed "to try to invoke coverage from the [directors' and officers'] insurance. The policy expired on October 18; that's what triggered this stuff. This is going to take years and years, and in the end the only people who will make money are the lawyers." The lawsuits have no impact on Eclipse Aerospace, which purchased the assets of Eclipse Aviation on September 30.