The court process to sort out the tangled mess of Robert Healey Jr. s business enterprises and legal work appears to be slowly moving toward a resolution.
The short answer is probably Yes, but a current legal case underscores the need for prudence.
April 2021
A federal grand jury indicted eight people in Texas in February for alleged drug offenses, money laundering, and export violations. Among other things, the government accuses the defendants of running a Ponzi scheme involving deposits for aircraft purchases held by Wright Brothers Aircraft Title (WBAT), a company that offers title and escrow services.[See “Distrust of Trusts: A Federal Indictment Upends the Preowned Market.” Ed.] The indictment raises questions about the safety of deposits in business jet transactions.
To tie up an aircraft for a buyer while the parties negotiate the deal and the purchaser conducts due diligence, it is customary for the buyer to put a refundable deposit in escrow. This is supposed to show that the buyer is serious about the purchase, has at least some of the financial horsepower it requires, and is acting in good faith.
50 startup tips to get your practice off the ground abajournal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from abajournal.com Daily Mail and Mail on Sunday newspapers.