An Oregon federal bankruptcy judge will decide Tuesday if a company owned by the Chinese government will take over the remnants of Epic Air and the companies associated with it, according to a report at AVweb, which notes the Aviation Industry Corporation of China (AVIC)’s bid of $4.3 million cash was selected over two American bids by bankruptcy trustee Ken Eiler following a daylong auction at a Portland law office on Friday.
If the Chinese bid is accepted by the judge, the Chinese company plans to ship all of Epic’s assets to China “to develop, manufacture and service general aviation and enhance the value of the aircraft models,” AVweb reports. Read the full story here.
