Looks like everything published on this site about PACE Airlines is finally coming out in court as the Trustee Allman filed a complaint last week showing the troubles with PACE go back to the beginning and never got better. I won’t bother re-writing a very thorough article from The Journal by Richard Carver, “Pace set for a fall – Bad business model, mismanagement led to failure, lawyer says.”

I will point out however that back in October 2009 we posted that Lee Booth had taken over PACE Airlines and was the primary for weeks. The paperwork filed by Edwin Allman III, the Chapter 7 trustee, without a doubt claims Rodgers signed over PACE to Booth and that Booth had indeed taken PACE assets. It appears Allman also states many of those assets are now missing. Unfortunately The Journal doesn’t have a link to the latest court documents so hopefully they will get those online soon.

In other PACE news employees recently discovered PACE did not file 2009 employee earnings with the Social Security Administration.

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This entry was posted on Tuesday, August 24th, 2010 at 1:40 am and is filed under Business News, Triad News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.