Zetta Jet USA looks to hire Braunco as agent for asset liquidation

By Caroline Salls

Pittsburgh, Jan. 11 – Zetta Jet USA, Inc.’s Chapter 7 trustee requested court approval to hire Braunco, Inc. as the agent for the liquidation for some of the company’s assets, according to a motion filed Wednesday with the U.S. Bankruptcy Court for the Central District of California.

Chapter 7 trustee Jonathan D. King said the assets to be liquidated by Braunco include aircraft spare parts and equipment, as well as office furniture, fixtures, office supplies and vehicles.

All of the assets are located at Zetta Jet’s office and hangar in Burbank, Calif.

King said Braunco will receive a 15% commission on the gross sale of the assets.

In addition, the agent will receive a $4,500 fee for labor expenses and up to $10,000 for security of the assets, if Braunco deems that security is necessary.

The liquidation sales were scheduled to begin on Jan. 5 and are expected to last for about 45 days.

Zetta Jet is a Burbank, Calif.-based private aviation charter company. The company filed for bankruptcy on Sept. 15 under Chapter 11 case number 17-21386.

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