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A helicopter leasing company based in Limerick, backed by George Soros and Michael Dell, filed for bankruptcy in the United States.
Waypoint Leasing said that she was looking for a new buyer.
The bankruptcy process says "Chapter 11" allows a company to reorganize its debts.
Waypoint said "expect to carry out the restructuring process as quickly as possible and is committed to working with its lenders and all stakeholders for a rapid and successful transformation" .
"To this end, Waypoint has put in place a comprehensive sales process over the last few months, has received offers from many parties and intends to use the Chapter 11 process to facilitate the acquisition of Waypoint by a new owner. customers. "
Company sponsors include MSD Capital, described by Waypoint as "a private investment company founded in 1998 to exclusively manage the capital of Michael Dell and his family." Quantum Strategic Partners, described as "a private investment vehicle for long-term investments exclusively for the benefit of clients of the family of Mr. George Soros and Soros".
Waypoint's customers include oil and gas operators, emergency medical services, search and rescue, and wind farm support.
CEO Hooman Yazhari said the bankruptcy filing was "the next step in our overall transformation strategy and that it would give us the opportunity to build a stronger, more sustainable and more competitive balance sheet. .
"This will strengthen our ability to implement many innovative and evolving changes to our business model, which will enable us to face the challenges and opportunities presented by our misplaced industry.
"As we continue to transform, our team will work as hard as possible to demonstrate the true value of Waypoint as a wise and knowledgeable manager of our badets."
Irish independent
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