Light Sport manufacturer Flight Design has filed for insolvency in Germany saying it’s run out of cash because a major customer hasn’t paid its bill. The company announced the move with a notice on its Web site on Dec.14. “The insolvency application became necessary because, on the one hand, an international customer has not yet paid undisputed claims in the mid-six-figure range and another payment in the mid-six-figure range was also delayed,” the Web site notice said. Flight Design has aircraft all over the world and is one of the most common Light Sport aircraft in service in the U.S.
Marcello Di Stefano was named the insolvency administrator and appears confident the company can emerge with some short term financing. “The…
