Demerara Bank Ltd's appointed receiver, Ronald Alli, has begun the process of disposing of the assets of the bankrupt GA2000 Airline.

Last week, Alli advertised for sale by public tender GA2000's head office building on Main Street Georgetown, its fleet of vehicles including four Station Wagons, one car, five buses and a truck, and office equipment and furniture including desks, chairs, computers and printers.

The funds realized from the sale of these assets are to go towards GA2000's secured creditors, including Demerara Bank Ltd.

Alli told Stabroek News that other assets remaining to be disposed of include the GA2000 bond at Timehri. He said that the bond at Ruimveldt was not among the statement of assets he received at the end of September as that had been previously disposed of. The property was sold to the Guyana Defence Force and is now the headquarters of the GDF Coast Guard.

About refunding passengers who had purchased tickets prior to the entity's collapse, Alli said that funds held in escrow in North America had been identified and he was awaiting written confirmation that these funds were earmarked for passenger refunds.

Earlier this year, GA2000 ran into difficulties and the government assisted by guaranteeing the cost of returning passengers stranded here to North America on BWIA.