Operators of Queenstown's Red Bull-sponsored stunt plane have paid their debts to the Queenstown Airport Corporation and avoided liquidation.
The corporation applied to the High Court at Invercargill to put The Action Aerobatic Company into liquidation.
A hearing was set for Wednesday.
Corporation chief executive Steve Sanderson told The Otago Daily Times the company had settled its debt before the hearing so it did not proceed.
He refused to comment on the amount of the debt or what it was for.
Company director Wayne Jack did not respond to questions.
