Mooney Aerospace files for Chapter 11

Washington, June 15 - Mooney Aerospace Group Ltd. filed for Chapter 11 with the U.S. Bankruptcy Court for the District of Delaware on June 10.

The Kerrville, Texas-based company listed its assets as zero and its liabilities as $65.5 million.

Its largest unsecured creditor The Abbey Co. with a $5.17 million claim for a lease and the next is Business Loan Express, which has a $4.97 million claim against the company.

Mooney also has $25 million of convertible preferred stock outstanding.

Its Chapter 11 case number is 04-11733.

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