Thielert Owners Group On Insolvency Committee
The Thielert Owners Group, a hastily convened organization of owners and operators of the diesel engines produced by the bankrupt German company has earned a seat at the table in deciding the fate of the company. THENOG, as it calls itself, has been named to the seven-member creditor committee by the German court overseeing the insolvency. "This was our goal for THENOG when we started the group in May," said THENOG board member Dr. Todd House, in a news release," House said. "Through our advocacy on the creditors committee and our legal standing with the German Insolvency Court, we can accelerate the process of bringing relief to owners of aircraft that use Thielert engines."
When Thielert became insolvent in May, the court-appointed insolvency administrator dramatically increased the price of part and voided warranties. Those actions made the aircraft uneconomical to fly for some and others were grounded. The group is encouraging Thielert owners to join at TheNOG.org.