Liquidators sell drone trainer EuroUSC’s intellectual property

EuroUSC

Would you buy a name that has seen some trouble? EuroUSC, as we know, went pop leaving students high and dry, some of whom only found out when they tried to find precise details of courses they had booked. It is alleged that EuroUSC kept taking students money even after the CAA pulled their qualifications. No doubt that will all come out in court.

Can the liquidators really expect cash money for the qualifications? They are not the only show in town anymore.

Perhaps the databases are useful, I wonder how the people on them feel about being sold on to a third party and what the data protection act says about such things.

If the IP went for UKP 50k each contact would be worth twelve pence each.

Up for sale by the administrators

  1. a) The Basic National UAS Certificate for Small Unmanned Aircraft (BNUC-S), which encompasses the documents & procedures relative to the qualification (theoretical & practical) of professional unmanned aircraft system (UAS) pilots & crew relative to the operation of UAS with a maximum take-off mass (MTOM) of less than 25 kg that are used for aerial work under Visual Line-of-Sight (VLOS) operations;
  2. b) The Basic National UAS Certificate for Unmanned Aircraft (BNUC), which encompasses the documents & procedures relative to the qualification (theoretical & practical) of professional UAS pilots & crew relative to the operation of UAS with a MTOM of 20-150 kg that are used for aerial work under Visual Line-of-Sight (VLOS) operations;
  3. c) The Light-UAS Scheme (LUASS), which encompasses the documents & procedures relative to the accreditation of UAS operators, manufacturers and flight training schools involved with Light UAS (MTOM <150 kg), which require permissions or exemptions to operate within the national context, as defined by the appropriate National Aviation Authority (NAA).

Additionally, EuroUSC owns significant shareholdings in companies in various European countries, which continue to operate and are not immediately affected by the Court appointment.

The Joint Administrators have appointed the insolvency valuation agents Williams and Partners Ltd, UK to sell the intellectual property, as well as other EuroUSC assets which include:

1)      A database of over 3500 qualified UAS pilots;

2)      A database of over 2500 qualified UAS operators;

3)      An accident and investigation database;

4)      A UAS operator insurance scheme;

5)      Computers and other hardware.

Given the company’s 13 years history and the substantial technical and procedural documentation that is part of the company’s intellectual property, as well as the company’s substantial databases, the Joint Administrators are seeking a minimum sale price of GPB £50,000 for which proof of funds will be required. The successful party will be buying such right, title and interest as the company has in its assets. However, the buyer will not be buying any of the existing liabilities of EuroUSC. This is a sale of assets only.

Interested parties should contact Antony Berg at by email at Williams and Partners Ltd: [email protected].

The deadline for receipt of expressions of interest is close of business on Friday 24 February 2017.

Williams and Partners Ltd are instructed in this matter by the Joint Administrators who are acting as agents of the Company and without personal liability.

Due to the confidential nature of some of the assets that are the subject of this sale, interested parties will be invited to sign a non-disclosure agreement before further details can be released.