No no no. It's like this. The old company — which is going under — transfers all its assets to a new company, then the old company is wound up. The new company then merges with
another company. That way, HMRC, the aviation authorities and Special Branch (where did they come from all of a sudden?) are completely hoodwinked — baffled — flummoxed. Even the late Inspector Morse couldn't see through that cunning plan.
Here is the article about the merger:
http://www.flyer.co.uk/news/newsfeed.php?artnum=679
The date of the article is 3 January this year — a few months after TIA was incorporated, and one week before BCT finally died.
The TIA web-site — mentioned elsewhere in this thread — is a sham: very nicely designed, but using a plane manufacturer's own
PR pictures, and with no real content. The existence of the site doesn't prove that TIA ever actually did anything. In my view, TIA was never anything more than a half-baked debt-avoidance manoeuvre, created in order to disappear.
The article about the merger mentions one Ed Hewertson of
Propstar Aviation. (
The Flying Club Kemble, according to its web-site, is 'a wholly owned subsidiary of the PropStar Aviation Group'.) Propstar's very flashy web-site — the same designer as TIA's, I think — reveals that Edmund Hewertson is the MD. He might be able to shed some light on the financial background of the merger. In fact, Propstar's web-site invites us to give him a call: the number is 01285 771386, and the e-mail address is
[email protected].
Propstar would not (or should not) have merged with a company without first letting their own accountant loose on its books or otherwise being intimate with the company's operations.