i must offer my sympathy to all of those of you out there who have lost out with the demise of PA.
I spent a lot of time talking to them about how to go about flying training. Their advice was, I believe, good and Rick was genuine. They undoubtedly had very ambitious plans and comments about running before walking are very appropriate..
Although I never took any training from them they certainly convinced me to get trained and for that I am grateful.
The impression I get from other comments about the attitudes towards getting income, ie pay up front, are very similar to those I have seen when other companies have been going under. The warnings are clear if you know what to look for. Look at the comments about OATS and attitudes towards flexible payments.
I believe that even for a limited company the directors are required to wind the company up as soon as it is apparent that the company is no longer viable, otherwise the directors become personaly liable for loses. The problem has always been to prove that they knew the company was no longer viable. Even if you can do this they need to have assets that you chase them for through the courts.