The company behind the Lilium Jet has filed for insolvency after its funding options dried up and promises of new financing failed to materialize.  

Lilium Aerospace, which evolved after Lilium GmbH and Lilium eAircraft GmbH filed for insolvency at the end of last year, confirmed on February 21, 2025, that operations had stopped.  

“As the funding options to secure Lilium’s future have not materialized in time, Lilium Aerospace has filed for insolvency today”, a spokesperson for Lilium said.  

While the electric vehicle takeoff and landing (eVTOL) developer will continue to seek alternative funding sources the company did not hold out much hope. 

“While talks about alternative solutions are still ongoing,…

Her bankruptcy came after a bitter fight with her former lawyer, Robert Balzoa, against whom Ms Hoskin lodged a complaint to the NSW Law Society in 2017, alleging he had misappropriated money he held in trust to prop up his own firm.

Mr Balzoa denied the allegations and he was allowed to keep practising after a bid by the Council of the NSW Law Society to have him suspended collapsed due to a legal technicality.

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Mr Balzoa is named in the National Personal Insolvency Index as the petitioning creditor in Ms Hoskin’s bankruptcy.

Being an undischarged bankrupt prevents a person from being chosen, or sitting, as a senator under section 44 of the constitution.

Section 44 states that anyone who is an “undischarged bankrupt or insolvent”…

Scutter said none of the establishments has any listed assets or liabilities because of a lack of documentation.

The liquidator didn’t state the amounts being claimed by creditors and said no recent financial statements were filed for either business.

Gas Hospitality, trading as Birdcage, had financial statements recorded until March 31, 2021.

Shoreditch Holdings, trading as Amador, had “no annual financial statements prepared” on the date of the report.

Scutter added that both businesses had not recorded recent transactions.

“At the time of liquidation, the recording of transactions in the accounting systems used by the company had fallen behind,” both Gas Holdings and Shoreditch’s reports said.