Bid Deadline Set for Aerion Corporation’s Assets

Interested parties must submit offers by September 7, 2022


FORT LAUDERDALE, FL, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Development Specialists, Inc. (DSI) is selling the assets of the Aerion Corporation, and affiliated companies, as part of a court-approved liquidation sale to pay back creditors. Interested parties must submit a bid by September 7, 2022, at 4 p.m.

Aerion was formed in 2003 with the vision to design and manufacture subsonic and supersonic technology for private and business aircraft, but in June 2021 ceased operations when it failed to raise additional capital to fund future growth.

Joseph Luzinski who is a Senior Managing Director of DSI, a leading national turnaround management and consulting firm, is overseeing the bid process in accordance with the terms and procedures pursuant to a court order dated July 12, 2022. Luzinski serves as assignee, and is managing the asset sale through an assignment for the benefit of creditors, a court-supervised insolvency proceeding, which is similar to a bankruptcy, but done under Florida statutes, not federal bankruptcy law.

A written offer by a qualified bidder must be delivered no later than September 7, 2022, at 4:00 p.m. EST to the Assignee, Development Specialists, Inc., 500 West Cypress Creek Road, Suite 400, Fort Lauderdale, Florida 33309, Attn: Joseph J. Luzinski (jluzinski@dsiconsulting.com) and Assignee’s counsel, Baker & Hostetler LLP, 200 South Orange Avenue, Suite 2300, Orlando, Florida 32801, Attn: Elizabeth A. Green (egreen@bakerlaw.com) and Andrew V. Layden (alayden@bakerlaw.com). Instructions for how to submit a Qualified Bid can be found in the Order and the Bid Procedures.

“Our goal is to sell all of the assets as a package or sell them in lots to maximize the recovery for creditors,” said Luzinski.

The complete Order, including the Notice of Sale, Bid Procedures, Auction and Sale Hearing is accessible at: https://www.dsiassignments.biz/Cases/144

Any party interested in bidding on the assets of Aerion Corp. and its related companies should contact Joseph J. Luzinski at jluzinski@dsiconsulting.com or George E. Shoup III at gshoup@dsiconsulting.com to obtain more information.

About DSI:

Development Specialists, Inc. (DSI) is one of the leading providers of management consulting and financial advisory services, including turnaround consulting, financial restructuring, litigation support, fiduciary services and forensic accounting. Our clients include business owners, private-equity investors, corporate boards, financial institutions, secured lenders, bondholders and unsecured creditors. For almost 48 years, DSI has been guided by a single objective: maximizing value for all stakeholders. With our highly skilled and diverse team of professionals, offices in the U.S. and international affiliates and an unparalleled range of experience, DSI has built a solid reputation as an industry leader.

Media Contacts:
Todd Templin
BoardroomPR
954-370-8999/954-290-0810
ttemplin@boardroompr.com


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Aerion Corporation