MYRTLE BEACH, S.C. - A bankruptcy trustee is proposing to drop a lawsuit against a former top official of Myrtle Beach-based Direct Air in exchange for a $10,000 settlement.
The Sun News of Myrtle Beach reports that trustee Joseph Baldiga said in court documents that he doubts he will be able to recover the almost $660,000 the carrier's former chief executive Judy Tull owes the bankruptcy estate.
Baldiga is suing four other Direct Air founders to recover nearly $2.6 million they received from the airline before it stopped flying and filed for bankruptcy more than two years ago.
The trustee says Tull is unemployed, has only Social Security income and had to borrow money for the $10,000 settlement. She has paid $5,000 of the settlement that still must be approved by the court.
Information from: The Sun News, http://www.thesunnews.com/