AEPS Bankruptcy

[Flash]

Found this posted on the Air Inc website : http://www.realcities.com/mld/miamiherald/2002/05/27/business/3333611.htm

 

[Beechnut]

Good.

 

[Dieterly]

There is a GOD after all!!!

Maybe now the friggin spam from them will end.

 

[Flash]

I was just reading another thread, I forgot which one already, where the publisher writes that it was the Las Vegas company that went under and it happened some time ago. This article was just off Air Inc. today so at this point I'm not too sure what to believe. Maybe this is a good sign, maybe "the rest" will be following in AEPS footsteps and go down the drain also.

 

[enigma]

AEPS never did me much good, but I hope that they remain viable. They are/were mainly a database of employees and employers that could be accessed to help find a match. I may have missed it, but AEPS was not the organization that was pimping for PFT companys..... FAPA/Air Inc is the company that continues to spread propoganda that misleads so many wannabees.

regards

 

[flydog]

Adios scum

The Chapter 7 bankruptcy filing is the worst kind. Complete asset sale and whatever is left is used to pay creditors. Usually means most of the creditors and all the customers are left holding tha bag

For those that dont know how this system works they liquidate everything so they avoid paying their bills and reimbursing customers then in a few months they go back into business still using the AEPS name but this time its Airline Employee Placement Service instead of Aviation Employee Placement Service

Its also possible that another corporation (possibly owned by the same scum) will buy the assets at auction in bankruptcy court and operate under another corporate name. This is usually prearranged as was the case with AA buying bankrupt TWA. Same owners, all their debt is erased and their customers screwed

I wouldnt expect any long term differences other than I along with thousands of other pilots will be screwed out of our $12 for the month. (not that it was worth anything anyway)

Thats what you get for dealing with companies that use a PO Box as their business address

 

[flydog]

Here is the complete text of the Miami Herald article...


Bankruptcies

These are recent bankruptcies filed in U.S. Bankruptcy Court for the Southern District of Florida, plus the attorney.

Bankruptcy definitions --

Chapter 7: Debtor sells assets in return for discharge of debts.

Chapter 11: Debtor company reorganizes under court supervision.

Chapter 13: Debtor arranges plan to repay debt.

Involuntary bankruptcy: Three or more unsecured creditors owed $5,000 or more have petitioned the court to force the company into bankruptcy. The petitions are sometimes withdrawn by the creditors or dismissed by the court.

American Shipping and Export dba Worldwide Parts Distributors dba Worldwide Wheels & Tires, 14127 NW 19th Ave., Opa-locka. Chapter 7. James Alan Poe, 305-592-0002.

Armitage Associates Ltd Partnership No. 1A, 243 Meridian Ave., Miami Beach. Chapter 11. Phillip M. Hudson III, 305-536-8868.

Armitage Associates Ltd. Partnership No. 2, 733 Third St., 311 Meridian Ave., Miami Beach. Chapter 11. Phillip M. Hudson III, 305-536-8868.

Aviation Employee Placement Service, P.O. Box 550010, Fort Lauderdale. Chapter 7. Sherri B. Simpson, 954-524-4141.

Book Liquidators, a Corporation a k a BookLiquidators.com, 1960 SW 30th Ave., Hallandale. Chapter 11. Donna Bumgardner, 954-724-4366.

 

[Dieterly]

Publisher,

Care to comment why both UPAS and AEPS still accepting pilots to join the "service"?

 

[ms6073]

If the website is virtually hosted or maintained by an offsite hsoting service or ISP, as long as AEPS has paid the company that provides the service, the website will continue to operate!

 

[publisher]

Answers

Let me answer you the best I can.

First and foremost, AEPS continues to operate as normal.

Secondly, this has more to do with UPAS and the holding company, WED Inc than AEPS directly.

ALPA has a retained interest in UPAS. . ALPA and the principals of WED had been negotiating for months since the 11th of September without resolution. The costs were continuing to get out of hand. This filing will bring a court conclusion to that situation.

This happened a few weeks ago but Kit Darby did not know it until now and wanted to make sure the world did not miss it. That says as much about his character as anything else as any investigation would have shown that AEPS continued to operate. Unfortunately all these companies had the same Florida address. The company declaring bankruptcy has no assets nor employees at all.

It is a sorry thing that so many take such glee in the supposed demise of a company. No one would have seen this if it had not been for a disgruntled employee looking for dirt.

AEPS has helped a good many people find jobs that they probably would not have known about any other way. The job fair is going on and so is the magazine.