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Wednesday, September 26, 2007

C First Class Corp.: Startup SilverJet Airlines Sued in Multimillion Dollar Lawsuit

NEW YORK, Sept. 26 /PRNewswire/ -- SilverJet, the startup UK all business service airline, is being sued for damages in a multimillion dollar lawsuit. The case was filed by C First Class Corp., a US holding company, in the United States Federal District Court of the Southern District of New York. Multiple counts against SilverJet include tortious 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 programme. ( www.flyfirstclass.biz )

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 Jan. 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.

"SilverJet had agreed to provide alternative 767 ER aircraft, a break up fee of $1 million and additional compensation to mitigate and ameliorate the harm done to C First Class Corp. but has not honoured their agreement," said spokesperson Gabrielle Griswold for C First Class. "The filing of our lawsuit is in direct response to the dismissive and arrogant attitude of SilverJet leadership, their obvious disregard in honouring commitments."

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.

C First Class Corp. a US company, has filed a multimillion dollar lawsuit for damages against startup, all business class SilverJet Airlines in New York Federal Court. The lawsuit includes charges of Unjust Enrichment, Tortiuous Interference with a Business Relationship and Tortiuous Interference with Contract. SilverJet appropriated the use of 767 aircraft, key to the successful launch and continued operation of their international service, without agreement and in direct violation of existing rights of C First Class Corp.

For additional information please refer to case Number 07 CIV 6371 filed in United States District Court of the Southern District of New York.


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