The business opportunity that was initially proposed involved the purchase, out of bankruptcy, of the assets of three U.S. divisions of Fairchild Dornier. Fairchild Dornier was a manufacturer of turboprop-powered aircrafts that are primarily used by commuter airlines.
The three divisions in bankruptcy, Merlin Express Incorporated, Fairchild Gen-Aero Incorporated, and Metro Support Services, Inc., operated the Fairchild Dornier U.S. servicing and parts distribution center in San Antonio (the “FDUS Assets”).