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Federal Judge Allows Seizure Of EIT Jet

In a court filing last month, former Endicott Interconnect Technologies CEO Jay McNamara told a federal judge if the company’s private jet were taken away, and it lost a subsequent lawsuit, the company would likely have to file for bankruptcy. Thursday, the U.S. District Court of Southern New York ordered U.S. Marshalls to seize the Hawker 800 corporate jet, which is parked at Binghamton Regional Airport. Canal Air LLC — a subsidiary of General Electric — is suing Endicott Interconnect because the Broome County employer missed a nearly $77,000 rent payment on the private jet Canal owns. In a separate lawsuit, Canal is asking for $11.5 million because E.I.T. missed the payment. McNamara told the court a ruling for removal of the corporate jet would add prejudice to the subsequent $11.5 million lawsuit. The judge disagreed.
McNamara said last month in a letter to the court losing both lawsuits would cost the future of EIT, and the company’s now 605 jobs. In his decision, the judge said the facts speak for themselves and that Canal Air is entitled to the immediate return of its aircraft under the terms of the lease.

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