{"id":8784,"date":"2008-10-07T00:00:00","date_gmt":"2008-10-07T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"update-airline-files-for-chap11-after-petters-arrest","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2008\/update-airline-files-for-chap11-after-petters-arrest.html","title":{"rendered":"UPDATE-Airline Files For Chap.11 After Petters Arrest"},"content":{"rendered":"

West Palm Beach (HedgeCo.net) – Holiday airline Sun Country filed for bankruptcy yesterday, just 3 days after the arrest of investor Thomas Petters, founder of Petters Group Worldwide, the firm that owns Sun Country among other investments.<\/p>\n

Petters was charged with mail and wire fraud, money laundering and obstructing justice. <\/p>\n

"We were forced to take this action as a result of recent events at Petters Group Worldwide," said Sun Country Chairman and CEO Stan Gadek. The airline said that it would continue to fly its regular schedule.<\/p>\n

A federal judge in Minneapolis order Petters to be held without bail after a taped phone conversation revealed that the disgraced entrepreneur planned to leave the country. A hearing is scheduled for Tuesday. <\/p>\n

Petters has stated that he plans to fight to be released from custody and maintains his innocence.<\/p>\n

Alex Akesson <\/p>\n

Editor for HedgeCo.Net
Email: alex@hedgeco.net<\/a><\/p>\n

HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds! <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

West Palm Beach (HedgeCo.net) – Holiday airline Sun Country filed for bankruptcy yesterday, just 3 days after the arrest of investor Thomas Petters, founder of Petters Group Worldwide, the firm that owns Sun Country among other investments. Petters was charged […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[2557,100,2968,110,138,587,3038,3037,186,3040,3039,588,106,2969,585],"class_list":["post-8784","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news","tag-bankruptcy","tag-boston","tag-disagreements","tag-due-diligence-service","tag-east-coast-routes","tag-estate-deals","tag-gemstones","tag-irs","tag-istanbul","tag-minneapolis","tag-o-neal","tag-palm-beach","tag-prison-term","tag-publishing-company","tag-real-estate-investments"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8784"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8784\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}