Zetta Jet announces appointment of Jonathan King as Chapter 11 trustee

By Caroline Salls

Pittsburgh, Oct. 16 – Zetta Jet Pte. Ltd. announced Monday that Jonathan King has been approved by the U.S. Bankruptcy Court for the Central District of California to serve as the company’s Chapter 11 trustee, overseeing its restructuring and business affairs.

According to a Zetta Jet news release, King has retained, subject to bankruptcy court approval, DLA Piper LLP (US) as his counsel and Seabury Corporate Finance LLC and Seabury Securities LLC as his financial adviser and investment banker.

“We look forward to working together with Jon and his team throughout the restructuring process,” Zetta Jet president and chief executive officer Michael Maher said in the release.

“Having an independent and impartial trustee of Jon’s caliber protects the interests of all of our stakeholders.”

King is a partner and co-chair of DLA Piper’s white collar, corporate crime and investigations practice.

As previously reported, Zetta Jet joined with the U.S. Trustee overseeing its bankruptcy case in a request for appointment of a Chapter 11 trustee “to ensure a unified direction in its restructuring efforts amidst continued shareholder disputes.”

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.