Bankrupt Emivest asks for more time

Emivest Aerospace, manufacturer of the SJ30 jet, has asked that its court-administered Chapter 11 bankruptcy protection be extended through midsummer while it tries to complete the sale of its assets to a company owned by the Chinese government, according to a report from Aviation International News, which notes that Emivest is seeking to have its assets acquired by China Aviation Industry General Aircraft, the same company that acquired the assets of Epic Aircraft last year, and is currently pursuing the purchase of U.S.-based general aviation engine maker Teledyne Continental Motors for $186 million.