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The Honolulu Advertiser
Posted on: Tuesday, December 22, 2009

Mauiscape Helicopters files for Chapter 7 bankruptcy

Advertiser Staff

A Kahului-based tour helicopter company has filed for bankruptcy weeks after a lender repossessed one of its aircraft and got a court order to take back another.

Mauiscape Helicopters Inc. filed for Chapter 7 bankruptcy citing assets of $981,525 and liabilities of $1.46 million. The company had provided aerial tours of Maui.
The bankruptcy followed a U.S. District Court order earlier this month in which Center Capital Corp., a firm which lent Mauiscape $700,000, got approval to take back one of Mauiscape’s Eurocopter AS-350 helicopters.
Center Capital said in a court filing it had earlier repossessed another helicopter from Mauiscape after it defaulted on loan payments.