A US bankruptcy court has approved the sale of Stoddard-Hamilton Aircraft to a private investment fund for $850,000, sparking a lawsuit over rights to the popular GlaStar kitplane. Meanwhile, OMF Aircraft of Germany has won type certification for its OMF-160 Symphony, based on the GlaStar.
After Oregon-based Stoddard-Hamilton ceased operations in May, GlaStar designer, Arlington Aircraft Development (AAD), agreed to transfer manufacturing and marketing rights to new company GlasPlanes (Flight International, 25-31 July).
GlasPlanes' offer for Stoddard-Hamilton's assets was rejected by the bankruptcy court, however, and the approved buyer must negotiate with AAD for the rights to the GlaStar.
The sale, to an equity fund run by Strider Capital Management, is contingent on reaching a licence agreement with AAD, says Mark Bailey, attorney for the unsecured creditors' committee. Stoddard-Hamilton has sued AAD for return of the rights, but Bailey does not anticipate problems reaching a new licence agreement.
The court favoured the Strider bid because it was for all Stoddard-Hamilton assets related to the GlaStar and Glasair two-seat kitplanes as well as the proposed Aurora/Millennia six-seat aircraft. The other, lower bids received were for the GlaStar/Glasair or Glasair/Aurora/Millennia only.
Meanwhile, Neubrandenburg, Germany-based OMF Aircraft is starting production of the piston single OMF-160 Symphony following approval from the German civil aviation authority (LBA).
OMF programme manager Tim Wright says the type and production certificates were secured in record time, and that production of the Symphony is sold out for two years. Production is expected to ramp up to 300 aircraft per year within the next three years, the company says.
OMF recently secured an order from US-based Sun Aviation for use by flying schools for 50 more of the two-seaters. The Symphony is based on the GlaStar kitplane but is extensively modified to meet European and US airworthiness requirements (JAR/FAR 23).
Source: Flight International