IS IT FAIR TO PROSECUTE OTHER COMPANIES OF THE DEFAULTER? OUR OPINION: YES!
We often encounter situations where a company accumulates debts and ceases its activity. But at the same time, the former owners of this company are opening under a new sign and continue the same song, only in a new way.
Is it fair to call for aviation market participants to stop doing business with ALL companies owned by the owner of a particular defaulting company? Below I will state the reasons why we consider it necessary.
When a particular Claimant submits a case to the BLACKLIST.AERO Registry, our team begins to study the defaulting company and collect information from various sources. And very often we are faced with the fact that although a particular company has ceased active operations (declaring or not declaring bankruptcy), its activities continue under a new sign. And the staff migrates from one company to another in whole teams.
Thus, formally, the new company has nothing to do with the debts of the old one. That allows the same people (often they hide behind fictitious top managers) to continue unscrupulous activities. If a creditor sues the old company that has accumulated debts to him, then he is simply forced to spend money and time on a process that can rarely end in debt recovery. By the time of the trial in court, the debtor company has no property, all working capital has been withdrawn.
The only way to achieve justice is to completely block the activities of specific people who breed companies year after year to receive fraudulent profits.
Legal procedures can help achieve such a result in only 5% of cases. To do this, the creditor needs to spend a huge amount of money and several years of litigation in an attempt to prove what everyone already knows. As a rule, the result financially does not justify the effort expended.
So, we have a situation where everyone knows everything about everything, but no one supposedly “can do anything”. If this is not a lie, then it is a self-deception. Let's just think - why has this practice become ubiquitous in the aviation market? Our answer: because other market participants allow scammers to operate in this way. Deliberately or out of ignorance and unwillingness to dig deeper - it happens in different ways.
There is a way out of this situation - self-regulation of the aviation market. Market participants should stop saying every time “Hello again!” to the old crooks. Because if non-payers see that other market participants are ready to deal with them “from scratch”, thus leaving the victim companies alone with their problems, then this motivates such scammers to do their dirty deeds again and again.
We at BLACKLIST.AERO are confident that all participants in the aviation market bear their share of responsibility for the current situation with non-payments. Only the professional solidarity of market participants can change the flow of non-payments. Namely, refusal to cooperate with any companies related to specific non-payers.
Only the realization by the owners of the defaulting company of the fact that their actions threaten their entire business, that the aviation community will simply throw them out of the market, will become a significant factor of pressure on them.
Do not wait for manna from heaven and complain about the lack of certain regulations! The mechanism for solving the problem of non-payments is in our hands!
The problems of Panorama Airways (Uzbekistan) began almost from the very beginning. In fact, it was a financial pyramid - tickets were sold at a loss, the company existed at the expense of loans from suppliers of fuel, ground handling and catering services. This could not work for so long and one fine day the pyramid collapsed in the most catastrophic way - the airline was unable to take back passengers who flew in January 2024 for Umrah (minor Hajj) to Saudi Arabia.
A week after my post about the fact that the co-owner of MERKUR HOLDING (Turkey) Halis Din should be released from prison, he is still behind bars. What is the reason?
What is the fate of one of the heroes of the articles in BLACKLIST.AERO, who pocketed the money for aircraft parts and disappeared. I will tell you about this in the new “report from Las Vegas” - a city in which you can become a millionaire almost instantly, and spend your millions in a matter of hours. A city in which the police, apparently, are already so tired of all sorts of crooks and adventurers that they are ready to react to anything only if they are brought a swindler, already handcuffed and with twenty boxes of evidence for the district attorney.
As I have just informed, MERKUR HOLDING co-owner Halis Din was arrested yesterday at his home. Halis was sent to prison after a court hearing.
