Florida-based charter carrier Verijet has filed for Chapter 7 bankruptcy, signaling the end of its roughly five years in operation. Unlike Chapter 11 bankruptcy, Chapter 7 begins a process of liquidation where a company's assets are sold off and the proceeds distributed to creditors. It typically ends the bankrupt company's existence. In documents filed with the U.S. Bankruptcy Court for the Southern District of Florida late last week, Verijet said it has assets valued between $1… (www.msn.com) More...
