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• Practice Areas
• Industries

• Corporate
• Emerging Companies
• Financings
• Government Investigations & White Collar Defense
• Private Equity
• Tax
• Venture Capital

• Harry E. Ekblom, Jr.
• William E. Halmkin
• David J. Nagle
• Barry S. Pollack

• S&W Defense and Investigations Report February 2007

Aviation

Sullivan & Worcester has been involved in the corporate aviation area for more than fifteen years. We are involved in all phases of corporate aviation work, including the negotiation and documentation of purchase arrangements, the structuring of ownership and operation, aircraft financings, Federal and State tax advice, operation and management strategies, cross-border issues, employment issues, FAA regulatory issues, and dispositions and like-kind exchanges, among other areas. We have represented clients in connection with the purchase of a wide range of aircraft – from large modern jet aircraft to antique Lockheed Electras. We are heavily involved in the fractional aircraft area as well. An increasing number of clients have sought our help in connection with the purchase of fractional aircraft interests, as well as the disposition or renewal of those interests. We have worked regularly with the big fractional interest programs (NetJets, Flexjet and Flight Options), as well as with regional fractional programs. Our corporate aviation clients (fractional and whole aircraft) include Fortune 500 companies, financial institutions, venture capital and private equity firms, and high net worth individuals. Among the strengths of our practice is the ability to draw upon the resources of our nationally recognized tax department, which has deep and wide experience in aviation tax matters. We pride ourselves on a practical and cost-effective approach to achieving client goals.

Representative Client Work

• The purchase of a new mid-size corporate jet by a Canadian manufacturer
• The purchase (and tax and regulatory advice concerning the structuring of ownership) of a used large corporate jet by a high net worth individual
• Acquisitions of fractional interests in large and mid-size NetJets and Flexjet aircraft by prominent companies involved in investment, insurance and retail businesses
• The negotiation, on behalf of a client private equity firm, of a fractional interest repurchase by the fractional program manager – saving the client more than $180,000 over the manager's initial "fair market value" repurchase offer

 Sullivan & Worcester is a member of the National Business Aircraft Association and the National Aircraft Finance Association.