Engineered Propulsion Systems CEO Michael Fuchs told the U.S. Bankruptcy Court for the Western District of Wisconsin on August 5 that the company was $12 million to $15 million short of being able to deliver its clean-sheet aviation diesel to any customers, and Judge G. Michael Halfenger signed on August 10 an order allowing EPS to meet its payroll obligations through September 15 with borrowed funds, federal bankruptcy court records show.
Source: aopaEPS bankrupt million short of certified diesel engine