Dynamic International Airways disclosure statement approved

New York, Dec. 19 – Dynamic International Airways, LLC received approval for its disclosure statement, according to minutes filed with the U.S. Bankruptcy Court for the Middle District of North Carolina on Monday.

The company was also given final approval for its debtor-in-possession financing.

A motion to appoint a Chapter 11 trustee was continued to Feb. 8 while a motion by creditor PMC Aviation 2012-1 LLC to convert the case to Chapter 7 was formally withdrawn.

A motion by creditor Air India Ltd., also to convert the case to Chapter 7, was continued to Feb. 8.

The U.S. Bankruptcy Administrator overseeing the case had requested the appointment of a Chapter 11 trustee in July in light of what the administrator said was “gross mismanagement of the affairs of the debtor.”

Dynamic is a High Point, N.C.-based airline. The company filed for bankruptcy on July 19 under Chapter 11 case number 17-10814.

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