More Trouble At Tiger

The owners of Tiger Aircraft LLC are suing the company’s former CEO, saying he sold off the company’s assets without their approval. Gene Criss was fired in early August after he cut a deal with a Florida company called Network Hosts (which, ironically, owns 39 scrap yards, among other successful ventures). According to the Martinsburg Journal, there are four companies that own a stake in Tiger and they’ve asked a West Virginia circuit court for a restraining order to prevent any of the company’s assets from changing hands. Then they want a judgment nullifying the sale. “Whether it (Tiger) is doing well now or not, there are companies that have invested substantial sums of money,” Tiger attorney Michael Lorensen told the Journal. “It’s not a situation where a responsible company would allow its assets to go out the door.” As for Network Hosts, it doesn’t sound like the Tiger acquisition is a fundamental part of its long-term business strategy. “We’re pretty large,” Network Hosts’ chairman of the board Samuel Miller told the Journal. “When it comes down to aircraft, for us it was just the passion of flying and sharing that with other people. For financial reasons, it would be stupid to buy Tiger. They were knee-deep in debt.” Ah, only in the airplane business….