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February 08, 2016 7:06 PM ET

Transportation Infrastructure

Company Overview of Morris Shirazi Inc.

Company Overview

Morris Shirazi Inc. operates as a fixed base operator company in the United States. It engages in the sale of corporate and private jet aircrafts, and helicopters. The company’s inventory includes jets, Boeings, hawkers, and helicopters. It provides private air charter flight services to the jet travelers, including ramp, avionics and maintenance, customs assistance, gourmet catering, arranging hotel accommodations and golf reservations, and arranging tickets to local events. Morris Shirazi Inc. was formerly known as Aero Toy Store, Inc. and changed its name to Morris Shirazi Inc. in June, 2002. The company was founded in 1993 and is based in Ft. Lauderdale, Florida.

1710 West Cypress Creek Road

Ft. Lauderdale, FL 33309

United States

Founded in 1993

Phone:

954-771-1795

Fax:

954-771-3281

Key Executives for Morris Shirazi Inc.

Founder, Chief Executive Officer and President
Chief Financial Officer
Age: 53
Compensation as of Fiscal Year 2015.

Morris Shirazi Inc. Key Developments

CPC Finance II Files Lawsuit against Aero Toy Store, Gulfstream IV 1145, CCA Financial Services, Free Trade Ltd. and Morris Shirazi Inc

Aero Toy Store and its affiliates were hit with a $75.34 million lawsuit that includes a foreclosure claim on one of its buildings and a lien on its aircraft inventory. The company has a fixed-based operator facility at Fort Lauderdale Executive Airport and a dealership that sells planes such as Challenger 600s and Boeing Super 27s, in addition to helicopters. CPC Finance II filed the complaint on December 2, 2015 against Aero Toy Store, Gulfstream IV 1145, CCA Financial Services, Free Trade Ltd. and Morris Shirazi Inc., along with individual guarantors Mayer Shirazpour and Gabrielle Shirazipour. It concerns an aircraft inventory loan originated in 2008 by General Electric Capital Corp. and restructured in 2009 to include a mortgage and additional guarantees. The loan was sold in September to CPC Finance II, managed by Patrick T. Marino in Fort Lauderdale. The complaint states that Aero Toy Store and Gultstream IV defaulted on the loan in 2010 and owe $75.34 million, plus interest. All of the other guarantors named in the lawsuit are on the hook for the same amount, expect for Free Trade Ltd., which has a limited guaranty of $8 million.

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