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October 18, 2017

Another Brunswick Landing aviation firm faces lawsuit over alleged loan default

A British investment company has sued the parent company of Tempus Jets, an aircraft refurbisher located at Brunswick Landing, alleging the company has failed to repay $9.7 million in loans.

It's the second aviation company at Brunswick Landing facing money woes: Another early tenant, Kestrel Aircraft, recently was evicted from its space at the former Brunswick Naval Air Station for failing to pay rent for at least a year and faces possible legal action by the state of Wisconsin and the city of Superior, Wisc., over millions in defaulted loans.

The Bangor Daily News reported that the lawsuit filed Friday by Greensill Capital Ltd. in U.S. District Court in Virginia alleges that Tempus failed to pay an October 2014 loan for more than $9.66 million plus interest and charges the company and its principals Jack Gulbin and Scott Terry with breach of contract.

Terry, CEO of Tempus Applied Solutions, told BDN in an email he was aware of the lawsuit but wouldn't comment on it other than to say "negotiations are currently underway to resolve the issue between the parties and it has no real effect on our operations in Brunswick."

Tempus Jets, a Virginia-based aircraft maintenance and repair company, signed a lease for space at Brunswick Landing in September 2013, indicating at that time that it planned to have 50 employees working there by the end of 2014.

Steve Levesque, executive director of Midcoast Regional Redevelopment Authority, told the BDN that Tempus was "somewhat" current on its lease payments for its space in Hangar 6 at Brunswick Landing but declined to be more specific.

"They've given us every indication they want to stay," he told the newspaper. "I know there are a bunch of cars in the parking lot, and there are three big airplanes in the hangar."

BDN reported that Tempus rented its 66,000-square-foot space in Hangar 6 on a month-to-month basis and reduced its workforce a year ago from 52 to 29 employees.

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