By Joe Nelson, Staff Writer
Posted: 01/09/2012 08:08:49 PM PST

Representatives of Norton Property Management Services, LLC., which rents and operates portions of a hangar at the embattled San Bernardino International Airport, met with creditors on Monday as the company’s bankruptcy proceedings moved forward.

John Melissinos, the attorney representing T. Milford Harrison, a manager at the company who filed for Chapter 11 bankruptcy protection on Dec. 7, told creditors a prospective tenant could be leasing the hangar as early as next month.

In a court document, he said Norton Property intends to restructure with hopes of emerging from bankruptcy protection by year’s end.

One goal is to save 72 jobs that now exist at the hangar at 255 S. Leland Norton Way.

“I think it’s going to be cash-flow positive,” Melissinos said during Monday’s proceedings, which were continued until Feb. 6. Creditors are seeking additional information including details regarding the company’s current lease agreement.

Several documents the company failed to include in its initial filing, including a list of personal property and a statement of financial affairs, have since been submitted, Melissinos said.

“All the deficiencies have been remedied. We filed everything,” he said.

Norton Property is one of 16 companies under investigation by the FBI. Federal agents raided the airport in September seeking information on airport developer Scot Spencer and his relationships with several individuals affiliated with the airport including Harrison, who is Spencer’s business partner and the airport’s former executive director.

Though Spencer’s signature appears with Harrison’s on the bankruptcy filing, Spencer said Monday he has no part of the bankruptcy.

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