SilverJet Faces Megabuck Lawsuit in the U.S.

SilverJet is being sued for damages in a multimillion-dollar lawsuit. in the U.S. The case was filed by C First Class Corp., a U.S. holding company, in the United States Federal District Court of the Southern District of New York. Multiple counts against SilverJet include tortuous interference and unjust enrichment claims.

According to the complaint, C First Class Corp. held an executed contract with air carrier FlyJet Limited of the UK for the use of a dedicated 767-200ER aircraft and operation of an international charter program.

In November 2006, SilverJet acquired FlyJet Limited. The purpose for Silverjet’s acquisition, was to take control of the 767 aircraft contracted to C First Class, crucial if SilverJet was to be operational in time for the company’s launch date deadline of January 25, 2007 and to satisfy goals promised to investors and shareholders.

SilverJet subsequently appropriated the dedicated 767 aircraft for its own purposes including a deposit of $750,000 in direct violation and malicious disregard of all C First Class rights.

Shortly thereafter, the dedicated C First Class 767 aircraft served as SilverJet’s launch aircraft for international flights between London, Luton and New York, Newark airports and continues to provide essential service and profit for SilverJet on those routes.

Companies listed and traded on the London Stock exchange, in compliance with AIM Rule 26, must disclose all relevant information that could impact share value. Yet “ SilverJet has not made any disclosures regarding this matter,” confirmed C First Class.