Here is some background info I found to aceisme's post:
Veal may still win Allco Aviation
27 May 2009
HNA Group and Bravia have formally won the auction for Allco Aviation. But KV Aviation, formed by John Kinghorn, the founder of Allco, his son Geoff Kinghorn, and David Veal, the former head of the aircraft leasing business, are now favourites to end up running the company.
Read more: [Allco Aviation; KV Aviation; HNA Group; Bravia Capital]
David Veal, the former CEO of Allco Aviation does not give up easily.
In early 2008, when Allcos share price fell over fears about its ability to meet debt payments, he visited all of the banks that had financed the lessor to reassure them and pledged to keep the business alive.
When the Allco Group filed for bankruptcy in November - something he disagreed about strongly - he personally acquired the legal title to each of the lessors 62 aircraft. He then tried to buy the company as part of the formal sales process.
Even though Veals bid was unsuccessful and the receivers have announced the sale of Allco Aviation to HNAGroup, the Chinese airline, hotel and logistics provider, and Bravia Capital, a New York investment boutique, he may still be about to win.
Bankers get to decide winners
While Bravia Capital and HNA..
Here is some background info I found to aceisme's post: Veal may...
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