Cldrvr -
You don't understand the structure of fractional. The tax dodge gives you an N-Number, but Avantair/NJ also owns a piece of the aircraft as well. So when the banks, creditors step in for their 'piece'..the likely hood of you and the other owners, of that aircraft, likely a list you will never see, getting together with pitchforks and torches, storming the aircraft hangar for 'your' aircraft are about zero.
You will get in line after a legal battle to find you your aircraft, which likely now needs engines, glass, maintenance...and where are the logs, that's right, locked up in a legal battle with the creditors.
These things tend to be messy as well as every mechanic, shop, ect will put a lien on the plane, employees looking for past due wages.
Anyway, if you want 'proof' of what I am saying, try to find one owner at Avantair that has 'his' plane out of the deal. This will probably be locked up for years with the owners losing their investments, not to mention no being able to fly and conduct business.