CHC, April 18, 2017 - Rotortrade Services, the independent multi-brand helicopter brokerage service company and exclusive global distributor of Leonardo’s pre-owned helicopters, announced that it has been retained by Holland & Knight LLP, in its capacity as counsel to the collateral agent under an asset-based loan to certain affiliates of CHC Group Ltd.
This retention occurred following the commencement of Chapter 11 cases by CHC Group Ltd. and its affiliate, CHC Helicopter. This allowed the filing of a motion by CHC Helicopter to abandon its 13 helicopters to the asset based lenders.
Rotortrade Services was retained by Holland & Knight to assist in evaluating the various options available to the lenders in respect to the 13 helicopters, which constituted collateral for the asset-based loan.
The lineup consisted of EC225, AW139, S76C++ and AS332L1 helicopters, with offshore and search-and-rescue (SAR) configurations, located in the U.K., Norway, the Netherlands, South Africa and Brazil.
Under the agreement, Rotortrade Services’ retention provides expertise in developing a comprehensive strategy with respect to the helicopters and assistance in negotiating a resolution to the abandonment motion. Rotortrade is responsible for managing, maintaining and selling the helicopters ultimately abandoned.
The abandoned helicopters consist of four EC225s manufactured from 2007 to 2015, offshore and full SAR mission-ready, from brand new 20 factory hours to 8,800 total time. Each of these helicopters is fully airworthy and none are affected by the MGB AD.
Optional equipment on these helicopters include emergency floats, extra range capability, dual hoist, infrared camera, anti-ice system and all the latest avionics and navigational equipment with full four-axis autopilot.