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 Post subject: MBE Jets
PostPosted: Thu Sep 29, 2011 12:30 am 
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Posts: 220
Location: At your mums house!
Hey all,

Can anyone confirm a rumour that I heard tonight that MBE Jets is no longer? I heard a rumour that they have ceased operations. Sad day when we loose another operator here in Canada (if its true).

CC



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 Post subject: Re: MBE Jets
PostPosted: Thu Sep 29, 2011 8:47 am 
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Location: west of Toronto
Captain_Canuck wrote:
Hey all,

Can anyone confirm a rumour that I heard tonight that MBE Jets is no longer? I heard a rumour that they have ceased operations. Sad day when we loose another operator here in Canada (if its true).

CC

Yes its true.



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 Post subject: Re: MBE Jets
PostPosted: Thu Sep 29, 2011 9:15 am 
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Horrible news. I hope that all the good people over there land safely on their feet. Sad to hear of yet another operator on the field closing its doors.

CC



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 Post subject: Re: MBE Jets
PostPosted: Thu Sep 29, 2011 9:46 am 
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Location: north of 60
[quote="Captain_Canuck"]Horrible news. I hope that all the good people over there land safely on their feet. Sad to hear of yet another operator on the field closing its doors.

CC[/quo
All looking for new jobs..



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 Post subject: Re: MBE Jets
PostPosted: Fri Sep 30, 2011 4:08 pm 
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Their website is stiil up.


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 Post subject: Re: MBE Jets
PostPosted: Tue Oct 04, 2011 7:45 pm 
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Yes, it's true! A few of the employees have already found jobs :)


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 Post subject: Re: MBE Jets
PostPosted: Wed Oct 05, 2011 8:39 am 
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Location: north of 60
yyc19 wrote:
Yes, it's true! A few of the employees have already found jobs :)

I don,t know of anyone at MBE JETS that has found a job yet...



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 Post subject: Re: MBE Jets
PostPosted: Thu Oct 27, 2011 6:39 am 
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Ru-oh:

Partnership dissolved over accusations of fraud involving helicopter and jets
Calgary banker suing former business partner

A Calgary energy investment banker has sued a former business partner for $5 million over alleged fraudulent ownership and operation of three private jets and a helicopter.

In a lengthy statement of claim filed last month, Thomas Budd alleges Marc Bombenon misrepresented costs of the aircraft and secretly pocketed profits, misled him on who were other partners in the purchases of the aircraft, overcharged him for fixed costs of the aircraft and falsified documents related to their use.

The acrimonious dispute between Budd and his company, Focus Energy Advisory Corporation, and Bombenon and MBE Jet Ltd., a bank holding company, began in 2008 and came to a head earlier this year.

It also involves a loan that was initially in excess of $4 million.

Budd alleges he initially engaged in discussions three years ago with another investor, Scott Hutcheson, who put him in touch with Bombenon.

They subsequently co-purchased three Hawker Beechcraft 390 aircraft (2007, and 2008 and 2010 models) and a Bell 206 BE Jet Ranger helicopter.

Read more: http://www.calgaryherald.com/Partnershi ... z1bzOLk8ZM



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 Post subject: Re: MBE Jets
PostPosted: Thu Oct 27, 2011 7:24 am 
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Oh does this mean I can't charter a Hawker Horizon all in for $4,000.00 whats a guy to do.


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 Post subject: Re: MBE Jets
PostPosted: Thu Oct 27, 2011 7:36 am 
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Does a pending court case provide enough for the company to shut down? Misrepresentation of costs are common in all industry. I would think other Management type companies should keep close ears to this. Overpriced jet charter is also common in this country. Perhaps not always the fault of "management" companies.

_________________
How do you go 205 kts TAS on 32 gal/hr without turbos!


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 Post subject: Re: MBE Jets
PostPosted: Thu Oct 27, 2011 1:14 pm 
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It would seem that the Globe and Mail had a bit on it as well...a few more goodies and insight into why the airplanes are grounded...

The quality of the scotch on board isn’t in dispute. But just about everything else is in a heated legal battle related to ownership stakes in three executive jets and a helicopter, pitting a Calgary investment banker against another of the city’s well-connected players.

Tom Budd, a retired financier-turned-philanthropist, is suing Marc Bombenon, whose background includes work with the Alberta Cancer Foundation and World Presidents Organization, and his company, MBE Jet Ltd. Mr. Budd, along with his personal company, alleges that he was hoodwinked, having spent millions on the ownership positions and providing a $3.3-million loan to the company.

Read more: http://www.theglobeandmail.com/report-o ... le2213612/



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