Liquidation Ordered
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From Associated Press
NEW IBERIA, La. — Trans Ocean Airways, an international air charter service based in New Iberia, has fled for Chapter 7 bankruptcy protection and was ordered to liquidate all its assets.
Bankruptcy Judge Donald Boe of Opelousas, La., ordered liquidation after owners of three planes petitioned the court to terminate their contract with Trans Ocean after Trans Ocean allegedly defaulted on lease payments.
