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Q: Is this stock certificate still good? ( Answered,   2 Comments )
Question  
Subject: Is this stock certificate still good?
Category: Business and Money
Asked by: kimberli-ga
List Price: $10.00
Posted: 08 Nov 2004 10:22 PST
Expires: 08 Dec 2004 10:22 PST
Question ID: 426161
I have a stock certificate from a company called "Airlift International, Inc."
Incorporated in the state of Florida.  The certificate dates back to
1964.  I found their name in the database "Corporations Online"
www.sunbiz.org with the registered agent name of James D. Fulford but
cannot find a phone number to reach him.
Answer  
Subject: Re: Is this stock certificate still good?
Answered By: juggler-ga on 08 Nov 2004 12:32 PST
 
Hello.

I'm afraid that I have bad news.  

Airlift International was de-listed from the American Stock Exchange
in 1971.  The company went into bankruptcy in 1981. In 1983, the
bankruptcy trustee announced that neither preferred nor common
stockholders would receive anything. As such, your stock certificate
is worthless.


sources:

"Airlift Stock Is Delisted", The New York Times, Jun 25, 1971, page 45.
http://pqasb.pqarchiver.com/nytimes/results.html?st=advanced&QryTxt=%22airlift+international%22&x=27&y=12&By=&Title=&datetype=6&frommonth=06&fromday=25&fromyear=1971&tomonth=06&today=25&toyear=1971&restrict=articles&sortby=REVERSE_CHRON

From the Boston Globe:
" Q. Can you tell me what happened to Airlift International Inc.? If
it is out of business, I would like to take this off my 1984 income
tax.
- M.B., Winchendon
A. In 1981 the Miami company filed for Chapter 11 bankruptcy.
According to a Standard & Poor's report, the trustee told the court on
March 1, 1983, that neither preferred nor common stockholders would
receive anything, and, in fact, unsecured creditors also were out of
luck."

source:  Boston Globe, Dec 30, 1984., SPREAD THE MONEY AROUND IN FDIC BANKS
, by BEATSON WALLACE pg. 46
http://nl.newsbank.com/nl-search/we/Archives?p_product=BG&p_theme=bg&p_action=search&p_maxdocs=200&p_text_search-0=%22airlift%20AND%20international%22%20AND%20bankruptcy%20AND%20trustee&s_dispstring=%22airlift%20international%22%20AND%20bankruptcy%20AND%20trustee&p_perpage=10&p_sort=YMD_date:D&xcal_useweights=no

--------
search strategy:
I searched for "airlift international" in a newspaper database
available through my local public library.

Again, I'm sorry to be the bearer of bad news, but I hope that you
find this information useful.
Comments  
Subject: Re: Is this stock certificate still good?
From: friendlytimes-ga on 14 Nov 2004 20:04 PST
 
There is no thing as "worthless airline stock"!!

Just take a peak at this website:  :)

http://www.scripophily.net/airlines.html

Ex-Airlift International Airlines Pilot.
Subject: Re: Is this stock certificate still good?
From: juggler-ga on 14 Nov 2004 20:29 PST
 
Fair enough.  Perhaps, someone would buy the certificate as a
collectible.  Again, though, Airlift International stock has no
underlying value.

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