litigation
confidence high
sentiment negative
materiality 0.80
Saker Aviation ordered to pay $1.4M in arbitration to Empire Aviation for unpaid management fees
Saker Aviation Services, Inc.
- Arbitrator awarded Empire Aviation $1.4M: $1,036,000 in unpaid management fees plus $363,000 accrued interest.
- Judgment amount is immediately payable and accrues per diem interest of $511.08 until paid in full.
- Company will not appeal and plans to pay the full judgment amount.
- Dispute arose from Management Agreement terminated on April 30, 2023.