Eclipse 500 owners bid $40M for insolvent company's assets

08/5/2009 | AviationWeek.com

Eclipse Aerospace Inc. has made a "stalking horse bid" for the assets of bankrupt firm Eclipse Aviation Corp., offering $20 million in cash and $20 million in notes for the company. The bidding firm was founded by Eclipse 500 owners Mike Press and Mason Holland, and it is among at least four different groups that have expressed an interest in buying Eclipse's assets since the company went into Chapter 7 liquidation in February.

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