GIDA approves to file suit against Excel Jet

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UPDATE: The Guthrie Industrial Development Authority filed for civil relief in District Court on Tuesday (September 13th) against Excel-Jet, LTD for breach of contract.

Reports show City of Guthrie Attorney Randel Shadid paid $211.00 as the payor of the suit.

Original Story

The Special Guthrie Industrial Development Authority convened in Executive Session Tuesday evening and upon returning asked the Guthrie City Attorney to file a suit in District Court against Excel-Jet.

In January, Excel-Jet officials said they planned on repaying their $375,000 loan to the City of Guthrie but doubted the company would ever relocate to the Guthrie-Edmond Regional Airport.

The suit will be filed for a breach of contract.

The Monument, Colorado based company and the City of Guthrie have seen the relationship strained when the $4,849.37 monthly payments were not being made.

Again in January, Excel-Jet President Bob Bornhofen said the cash-strapped company was trying to restructure its payment schedule.

The city secured a $375,000 loan in December 2005 as part of a deal to relocate the company to the airport. The company delayed their move after its prototype plane crashed in a test flight in June 2006.

Bornhofen said the company’s relationship with the City of Guthrie deteriorated quickly after the June crash. He went on to say that the company is looking for another community to build its manufacturing plant.

Story developing. Refresh page for immediate, future updates.

Nathan Altadonna, Staff Writer of The Oklahoman contributed to this article.


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