ASTAR Air Cargo Withdraws Lawsuit Against GA Telesis for Fraud,
Breach of Contract
MIAMI (Business Wire EON) May 5, 2008 --
ASTAR Air Cargo (ASTAR) today announced that it has dismissed with
prejudice its lawsuit filed on April 28, 2008 against GA Telesis, ART
22982 LLC, and ART 21985 LLC and all claims asserted therein, in
connection with the purchase of a Boeing 727-200 cargo aircraft. GA
Telesis was the servicer for the ART entities in connection with the
sale.
“We are pleased that the parties were able to
quickly get this negotiation back on track and closed,”
said Steven A Rossum, ASTAR’s Executive Vice
President and General Counsel. “We have utmost
confidence in the integrity and business ethics of GA Telesis and ART.
We are pleased that we have resolved any outstanding issues and I would
like to thank Abdol Moabery, President and Chief Executive Officer of GA
Telesis, and Jeffery McCoy, Chief Executive Officer of N-1 Technologies
and Manager of ART, for their instrumental roles in this process.”
About ASTAR Air Cargo, Inc.
ASTAR Air Cargo, Inc. is the operating subsidiary of ASTAR Air Cargo
Holdings, LLC. ASTAR Air Cargo is a licensed U.S. air carrier operating
a fleet of 43 aircraft from its operational hub in Wilmington, Ohio. The
airline provides cargo scheduled and charter services on a contract
basis for the DHL Express network and charter services on a contract
basis for other customers including the U.S. military and the United
States Postal Service. ASTAR Air Cargo is a participant in the United
States Civil Reserve Air Fleet program supporting our national defense.
Additional information can be found at www.astaraircargo.us.
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