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Drone Maker Volansi in Assignment for Benefit of Creditors Status

Frank Wolfe Frank Wolfe
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Drone Maker Volansi in Assignment for Benefit of Creditors Status
The Voly 50 drone (Volansi Photo)

Volansi, a Silicon Valley-based drone maker backed by $75 million in venture capital funding, is in assignment for benefit of creditors (ABC) status. The company filed for ABC status with the California Secretary of State's office on Aug. 1. The filing lists Michael Maidy as the company's agent. Maidy is the president of California-based Sherwood Partners, Inc. and would presumably try to market Volansi's intellectual property (IP) and patents to other aerospace companies. Sherwood's website lists Maidy as an accountant…

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