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BRIEF-Zetta Jet files for Chapter 11 protection to implement debt restructuring
September 18, 2017 / 9:55 PM / 3 months ago

BRIEF-Zetta Jet files for Chapter 11 protection to implement debt restructuring

Sept 18 (Reuters) -

* Zetta Jet files for Chapter 11 protection to implement debt restructuring

* Zetta Jet - Debt restructuring was necessitated by recent discovery that former managing director, Geoffrey Cassidy, had misappropriated funds from co

* Zetta Jet​ - To file a number of “first-day” motions with bankruptcy court to facilitate smooth transition into chapter 11 & minimize business disruption

* Zetta Jet - ‍As a result, company filed a lawsuit in federal court against Cassidy on September 8, 2017 ​

* Zetta Jet - ‍Company filed its chapter 11 bankruptcy petitions in central district of California, Los Angeles division​

* Zetta Jet - ‍Board of directors appointed Michael Maher as Zetta Jet’s interim CEO ​ Source text for Eikon:

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