Verijet Chapter 7 Bankruptcy: Private Jet Operator Liquidates After CEO Death
Private jet charter operator Verijet has filed for Chapter 7 bankruptcy protection, leading to liquidation of assets. The filing comes less than a month after founder and CEO Richard Kane’s death, marking the end of the company’s ambitious vision for affordable private aviation.
Private jet charter operator Verijet has filed for Chapter 7 bankruptcy, triggering complete liquidation of the company’s assets just weeks after founder and CEO Richard Kane’s sudden death. The filing marks a dramatic collapse for what had become the 13th-largest private jet operator in the United States, ranked by charter and fractional flight hours. Unlike Chapter 11 bankruptcy that allows for reorganization, Chapter 7 bankruptcy means the company will cease operations entirely while a trustee sells its assets to pay creditors.