Narco Bankruptcy Wraps Up
Bankruptcy proceedings involving Narco Avionics appear to be complete but those hoping to get their radios and nav equipment back are being advised to get those arrangements made sooner rather than later. It appears the landlord of the building that housed Narco in Fort Washington, Penn, and secured creditors who now control what's left of the company will try to reunite customers with their equipment but the owners, whose gear was in for repair or servicing, will have to ensure the process moves along. "We are fearful that if you do not act quickly, your property could be erroneously disposed of by the landlord or secured creditors of Narco," a notice posted on the company website says.
As we reported in April, the company shut down suddenly and entered bankruptcy. Once one of the heavyweights in the industry it virtually founded, the company apparently went quickly and quietly into oblivion. According to the Narco site, the federally appointed trustee determined there were no assets to distribute and closed the bankruptcy case. All that remains is the building full of other people's radios, which the landlord and a representative of the secured creditors told AOPA they will try to facilitate getting back to their rightful owners.