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Re: doughboy2 post# 274437

Monday, 09/16/2013 9:27:56 PM

Monday, September 16, 2013 9:27:56 PM

Post# of 375420
Haven't had a chance to go through it all, but this caught my eye, under legal proceedings:

J’s Aviation, LLC, by and through Joshua R. Henderson, its owner v. Quasar Aircraft
Corporation


Joshua Henderson, former COO and director for Quasar Aerospace Industries, Inc. and
former officer and director of all its subsidiaries claims that during his tenture, Mr.
Henderson allegedly purchased Atlantic Aviation, Inc.’s Redbird Full Motion Simulator
for Ten Dollars and no/100 ($10.00) and holds a Bill of Sale dated July 19, 2011 for said
transaction. Quasar is disputing the validity of this transaction in its entirety. The
simulator was subject to a collateral loan handled by Henderson in September of 2010
which went into default in March of 2011. The loan was never properly foreclosed
upon. The loan amount was fully satisfied in excess of the amount due through
payments from June 2011 through September of 2011 and therefore all interest and
rights to the collateral should have been released back to Quasar. The simulator never
left the possession of Atlantic Aviation, Inc. at any time. Quasar is currently awaiting a
jury trial on the matter.


$10 bucks?



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