Interesting read. Thanks.
The most interesting thing to me is after review and considerations for market value, etc. the total net worth, according to the filing, in a chapter 7 is est. $75K. Less the $37K for disposal fees, this leaves an aggregate value of $38K, Not too far off of Gary's initial offer of $30K.
AT had/has opportunity to file CH 7. If it did, then what would be left? $38K and no more AT as we know it. IMO, what Gary did is try to speed the process along so he can get back to business and we can get back to our hobby, and save the company in the process. Sure it's self serving, but a lot of folks are positively benefited... like his employees... his suppliers... his customers. There is a bigger picture here.
This isn't Enron, but a lot of folks (in other forums) make it out that way. This is a private company. Early investors are long gone, have taken their gains and losses. If the folks that ran this whole issue up the flagpole would just let him be, everyone would come out for the better. Especially the hobby. The convoluted ownership/lease agreements like this are more common than most folks realize.
The Fire caused a cascading chain of events that would have run off most business owners long ago. Give Gary a break here. He is, after all, the primary debtor. At least he's trying to keep the company alive, his employees working, and us flying. He played a key role in the development of AP motors that we have today.
/soapbox off/
Korman was an investor.