MYRTLE BEACH, SC (WMBF) - Direct Air, a former air travel provider to the Grand Strand that went belly up in 2012, is causing more legal headaches.
The investigation into their finances has hit a snag as travelers that were stranded when the airline filed for bankruptcy still cling to the hope of reimbursement from the company's escrow account.
That account once contained $30 million in preparation for such an event, but with creditors calling for payments, it has been depleted to $1 million.
A US trustee for the account, Joseph Baldiga, is in charge of the investigation to locate the missing money. He has reached a tentative agreement with credit companies and the Valley National Bank to divide up the remaining money.
Those two companies will process the chargebacks to provide stranded travelers what they are owed. But not all travelers are satisfied with this agreement.
A judge ruled that anyone not pleased should file an objection to the settlement by May 23, prior to the hearing on June 5.
So far nine objections have been filed.