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February 12, 2016 6:52 PM ET

Air Freight and Logistics

Company Overview of Evergreen International Airlines, Inc.

Company Overview

Evergreen International Airlines, Inc. a cargo operator provides passenger and cargo services in the United States and internationally. The company provides transportation solutions to airlines, government, military, NGOs, freight forwarders, direct shippers, and charter brokers. Evergreen International Airlines, Inc. was formerly known as Evergreen Air, Inc. and changed its name to Evergreen International Airlines, Inc. in October 1975. The company was founded in 1974 and is headquartered in McMinnville, Oregon. As of May 30, 2014 Evergreen International Airlines, Inc. operates as a subsidiary of Jet Midwest, Inc.

3850 Three Mile Lane

McMinnville, OR 97128

United States

Founded in 1974

Phone:

503-472-9361

Fax:

503-472-1048

Key Executives for Evergreen International Airlines, Inc.

Senior Vice President of Sales & Marketing - Hong Kong, Asia & Indonesia
Age: 50
Executive Vice President
Director of Administration
Vice President of Sales -Australasia
Director of Sales -San Francisco California
Compensation as of Fiscal Year 2015.

Evergreen International Airlines, Inc. Key Developments

Motion for Asset Sale Approved for Evergreen International Aviation, Inc.

The US Bankruptcy Court gave an order approving the sale of substantially all the assets of Evergreen International Aviation, Inc. on May 30, 2014. The debtor has been authorized to sell substantially all its assets to Jet Midwest Group, LLC, the stalking horse bidder for a purchase price of $4.93 million plus assumed liabilities pursuant to amended asset purchase agreement dated May 29, 2014. The debtor’s assets include majority assets of Evergreen Aviation Ground Logistics Enterprise, Evergreen International Aviation, Inc., Evergreen International Airlines, Inc., Evergreen Trade, Inc. and Supertanker Services, Inc. Buyer will pay deposit of $0.25 million. On closing, Jet Midwest will also provide a deposit of $0.10 million for the Supertanker and $0.10 million for the Fly-Away Kits. If trustee accept competing offers, buyer will be entitled to break-up fee of greater of $0.10 million or 3% of the purchase price plus an expense reimbursement up to $0.10 million. Howard Cohen of Drinker Biddle and Reath LLP acted as legal counsel for the buyer.

Motion for Asset Sale Filed by Evergreen International Aviation, Inc.

Evergreen International Aviation, Inc. filed a motion in the US Bankruptcy Court seeking approval for sale of substantially all its assets on April 21, 2014. As per the motion, debtor seeks to sell all the assets of Evergreen Aviation Ground Logistics Enterprise, Evergreen International Aviation, Inc., Evergreen International Airlines, Inc., Evergreen Trade, Inc. and Supertanker Services, Inc. to Jet Midwest Group, LLC. The agreement was signed on April 21, 2014 with a purchase price of $4.28 million plus assumed liabilities. Buyer will pay deposit of $0.25 million. On closing, Jet Midwest will also provide a deposit of $0.10 million for the Supertanker and $0.10 million for the Fly-Away Kits. If trustee accept competing offers, buyer will be entitled to break-up fee of greater of $0.10 million or 3% of the purchase price plus an expense reimbursement up to $0.10 million. Howard Cohen of Drinker Biddle and Reath LLP acted as legal counsel for the buyer. As per the notice of sale of substantially all assets of the debtor filed on May 2, 2014, the hearing on the motion is scheduled for May 6, 2014. There are no substantial changes to the agreement. As per the notice of sale of substantially all assets of the debtor filed on May 29, 2014, the initial purchase price will be of $4.93 million plus assumed liabilities.

Bidding Procedure Approved for Evergreen International Aviation, Inc.

The US Bankruptcy Court gave an order approving procedures for sale or abandonment of de minimis assets of Evergreen International Aviation, Inc. on February 26, 2014. The Court approved the asset sale procedure for the sale or abandonment of de minimis assets for an aggregate selling price of $0.35 million or less in cash. The trustee shall file with the Court and serve written notice of each proposed sale to the related parties including details of asset being sold, identification of purchaser, purchase price and significant terms of sale agreement. The notice parties will be allowed to object to the proposed sale by the fifth day after the date of service of the sale notice.

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