Official Form 1 (04/10)

Voluntary PetitionUnited States Bankruptcy CourtDISTRICT OFSOUTHERN CALIFORNIA

Name of Debtor (if individual, enter Last, First, Middle):

Palomar Hangar, LLC,

All Other Names used by the Debtor in the last 8 years(include married, maiden, and trade names):NONE

Last four digits of Soc. Sec. or Indvidual-Taxpayer I.D. (ITIN) Complete EIN

(if more than one, state all): 20-8266314Street Address of Debtor (No. and Street, City, and State):

2100 Palomar Airport RoadHangar 14, Suite 214CARLSBAD CA

County of Residence or of thePrincipal Place of Business:

Mailing Address of Debtor (if different from street address):

Location of Principal Assets of Business Debtor(if different from street address above):

Name of Joint Debtor (Spouse)(Last, First, Middle):

All Other Names used by the Joint Debtor in the last 8 years

Last four digits of Soc. Sec. or Indvidual-Taxpayer I.D. (ITIN) Complete EIN

Street Address of Joint Debtor

Mailing Address of Joint Debtor

(include married, maiden, and trade names):

(if more than one, state all):

(No. and Street, City, and State):

County of Residence or of thePrincipal Place of Business:

(if different from street address):

SAME

SAME

a Corporation

ZIPCODE

ZIPCODE

92011ZIPCODE

ZIPCODE

ZIPCODE

Railroad

Stockbroker

Commodity BrokerOther (if debtor is not one of the above

Partnership Chapter 13Chapter 12 Chapter 15 Petition for Recognition

Chapter 9Chapter 11

Chapter 7

Chapter of Bankruptcy Code Under Which the Petition is Filed (Check one box)

Nature of Debts

Filing Fee (Check one box)

(Check one box)

Full Filing Fee attached

Filing Fee to be paid in installments (applicable to individuals only). Mustattach signed application for the court’s consideration certifying that the debtoris unable to pay fee except in installments. Rule 1006(b). See Official Form 3A.

Chapter 11 Debtors:

Check one box:

Debtor is not a small business debtor as defined in 11 U.S.C. § 101(51D).

Debtor is a small business as defined in 11 U.S.C. § 101(51D).

Debtor’s aggregate noncontingent liquidated debts (excluding debtsowed to insiders or affiliates) are less than $2,343,300 (amountsubject to adjustment on 4/01/13 and every three years thereafter).

Clearing Bank

entities, check this box and state type of

entity below

of a Foreign Nonmain Proceeding

Filing Fee waiver requested (applicable to chapter 7 individuals only). Mustattach signed application for the court's consideration. See Offi cial Form 3B.

Nature of Business(Check

Health Care Business

Single Asset Real Estate as defined

in 11 U.S.C. § 101 (51B)

(Form of organization)

Corporation (includes LLC and LLP)

Individual (includes Joint Debtors)

Type of Debtor

(CheckChapter 15 Petition for Recognitionof a Foreign Main Proceeding

Check if:

one box.) one box.)

Check all applicable boxes:

A plan is being filed with this petition

Acceptances of the plan were solicited prepetition from one or more

classes of creditors, in accordance with 11 U.S.C. § 1126(b).

Debts are primarily consumer debts, definedin 11 U.S.C. § 101(8) as "incurred by anindividual primarily for a personal, family,

Debts are primarilybusiness debts.

or household purpose"

See Exhibit D on page 2 of this form.

Other

Tax-Exempt Entity(Check box, if applicable.)

Debtor is a tax-exempt organization

under Title 26 of the United States

Code (the Internal Revenue Code).

-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- --

THIS SPACE IS FOR COURT USE ONLYStatistical/Administrative Information

Debtor estimates that funds will be available for distribution to unsecured creditors.

Debtor estimates that, after any exempt property is excluded and administrative expenses paid, there will be no funds available fordistribution to unsecured creditors.

Estimated Number of Creditors

Estimated Assets

Estimated Liabilities

100,000100-199

5,000200-999

100,00010,000 50,00025,0001-49 50-99 1,000- 5,001- 10,001- 25,001- 50,001- Over

$1,000,001to $10million

$500,001to $1million

$0 to$50,000

$50,001 to$100,000

$100,001 to$500,000

$10,000,001to $50million

$50,000,001to $100million

$100,000,001to $500million

$500,000,001to $1 billion

More than$1 billion

$0 to$50,000

$50,001 to$100,000

$100,001 to$500,000

$500,001to $1million

$1,000,001to $10million

$10,000,001to $50million

$50,000,001to $100million

$100,000,001to $500million

$500,000,001to $1 billion

More than$1 billion

Case 11-06308-11 Filed 04/17/11 Doc 1 Pg. 1 of 10

Official Form 1 (04/10) FORM B1, Page 2

Debtor has been domiciled or has had a residence, principal place of business, or principal assets in this District for 180 days immediatelypreceding the date of this petition or for a longer part of such 180 days than in any other District.

There is a bankruptcy case concerning debtor's affiliate, general partner, or partnership pending in this District.

Information Regarding the Debtor - Venue

(Check any applicable box)

Name of Debtor:

District:

Case Number:

Relationship:

Date Filed:

Judge:NONE

Location Where Filed: Case Number: Date Filed:

NONE

Voluntary Petition(This page must be completed and filed in every case)

Name of Debtor(s):Palomar Hangar, LLC, a Corporation

or safety?

Yes, and exhibit C is attached and made a part of this petition.No

X

Exhibit A(To be completed if debtor is required to file periodic reports(e.g., forms 10K and 10Q) with the Securities and ExchangeCommission pursuant to Section 13 or 15(d) of the SecuritiesExchange Act of 1934 and is requesting relief under Chapter 11)

Exhibit A is attached and made a part of this petition

Exhibit B(To be completed if debtor is an individual

whose debts are primarily consumer debts)I, the attorney for the petitioner named in the foregoing petition, declare that I

3/ 9/2011Signature of Attorney for Debtor(s) Date

Exhibit C

Does the debtor own or have possession of any property that poses or is alleged to pose a threat of imminent and identifiable harm to public health

All Prior Bankruptcy Cases Filed Within Last 8 Years (If more than two, attach additional sheet)

Pending Bankruptcy Case Filed by any Spouse, Partner or Affiliate of this Debtor (If more than one, attach additional sheet)

required by 11 U.S.C. §342(b).

Debtor is a debtor in a foreign proceeding and has its principal place of business or principal assets in the United States in this District, or has no

principal place of business or assets in the United States but is a defendant in an action proceeding [in a federal or state court] in this District, or

the interests of the parties will be served in regard to the relief sought in this District.

Exhibit D

(To be completed by every individual debtor. If a joint petition is filed, each spouse must complete and attach a separate Exhibit D.)

Exhibit D completed and signed by the debtor is attached and made part of this petition.

Exhibit D also completed and signed by the joint debtor is attached and made a part of this petition.

If this is a joint petition:

Location Where Filed: Case Number: Date Filed:

have informed the petitioner that [he or she] may proceed under chapter 7, 11, 12

or 13 of title 11, United States Code, and have explained the relief available under

each such chapter. I further certify that I have delivered to the debtor the notice

Certification by a Debtor Who Resides as a Tenant of Residential Property(Check all applicable boxes.)

(Name of landlord that obtained judgment)

(Address of landlord)

Landlord has a judgment against the debtor for possession of debtor's residence. (If box checked, complete the following.)

Debtor claims that under applicable nonbankruptcy law, there are circumstances under which the debtor would be permitted to cure the entire monetary default that gave rise to the judgment for possession, after the judgment for possession was entered, and

Debtor has included with this petition the deposit with the court of any rent that would become due during the 30-dayperiod after the filing of the petition.

Debtor certifies that he/she has served the Landlord with this certification. (11 U.S.C. § 362(l)).

Case 11-06308-11 Filed 04/17/11 Doc 1 Pg. 2 of 10

Official Form 1 (04/10) FORM B1, Page 3

Palomar Hangar, LLC, a Corporation

Signature(s) of Debtor(s) (Individual/Joint)

Code, specified in this petition.I request relief in accordance with the chapter of title 11, United States

proceed under chapter 7.understand the relief available under each such chapter, and choose tounder chapter 7, 11, 12, or 13 of title 11, United States Code,and has chosen to file under chapter 7] I am aware that I may proceed[If petitioner is an individual whose debts are primarily consumer debtspetition is true and correct.I declare under penalty of perjury that the information provided in this

X

X

Date

Signature of Debtor

Signature of Joint Debtor

Telephone Number (if not represented by attorney)

Signatures

[If no attorney represents me and no bankruptcy petition preparer

11 U.S.C. §342(b)signs the petition] I have obtained and read the notice required by

X

(Date)

(Signature of Foreign Representative)

(Printed name of Foreign Representative)

I declare under penalty of perjury that the information provided in this

petition is true and correct, that I am the foreign representative of a debtor

in a foreign proceeding, and that I am authorized to file this petition.

Signature of a Foreign Representative

Voluntary Petition(This page must be completed and filed in every case)

Name of Debtor(s):

3/ 9/2011

I request relief in accordance with chapter 15 of title 11, United StatesCode. Certified copies of the documents required by 11 U.S.C. § 1515are attached.

Pursuant to 11 U.S.C. § 1511, I request relief in accordance with thechapter of title 11 specified in this petition. A certified copy of theorder granting recognition of the foreign main proceeding is attached.

(Check only one box.)

Signature of Attorney for Debtor(s)

San Diego CA 92123

858-598-6628

THE LAW OFFICE OF JOSEPH REGO

JOSEPH REGO 163183

Signature of Attorney*Signature of Non-Attorney Bankruptcy Petition Preparer

Telephone Number

Firm Name

Date

Address

Printed Name of Attorney for Debtor(s)

X I declare under penalty of perjury that: (1) I am a bankruptcy petitionpreparer as defined in 11 U.S.C. § 110; (2) I prepared this document forcompensation and have provided the debtor with a copy of this document

Social-Security number (If the bankruptcy petition preparer is not anindividual, state the Social-Security number of the officer, principal,responsible person or partner of the bankruptcy petition preparer.)(Required by 11 U.S.C. § 110.)

Address

Printed Name and title, if any, of Bankruptcy Petition Preparer

A bankruptcy petition preparer’s failure to comply with the provisions of title11 and the Federal Rules of Bankruptcy Procedure may result in fines orimprisonment or both. 11 U.S.C. § 110; 18 U.S.C. § 156.

If more than one person prepared this document, attach additionalsheets conforming to the appropriate official form for each person.

Names and Social-Security numbers of all other individuals who preparedor assisted in preparing this document unless the bankruptcy petitionpreparer is not an individual.X

3/ 9/2011

SUITE 306

8765 AERO DRIVE

/s/ JOSEPH REGO

Signature of Debtor (Corporation/Partnership)

I declare under penalty of perjury that the information providedin this petition is true and correct, and that I have beenauthorized to file this petition on behalf of the debtor.

bankruptcy petition preparers, I have given the debtor notice of themaximum amount before preparing any document for filing for a debtoror accepting any fee from the debtor, as required in that section. OfficialForm 19 is attached.

The debtor requests the relief in accordance with the chapter oftitle 11, United States Code, specified in this petition.

and the notices and information required under 11 U.S.C. §§ 110(b), 110(h), and 342(b); and, (3) if rules or guidelines have been promulgatedpursuant to 11 U.S.C. § 110(h) setting a maximum fee for services

/s/ Todd MacalusoSignature of Authorized Individual

Todd MacalusoPrinted Name of Authorized Individual

Managing MemberTitle of Authorized Individual

3/ 9/2011Date

X

Signature of bankruptcy petition preparer or officer, principal,responsible person, or partner whose Social-Security number is provided

Date

*In a case in which § 707(b)(4)(D) applies, this signature alsoconstitutes a certification that the attorney has no knowledgeafter an inquiry that the information in the schedules is incorrect.

Case 11-06308-11 Filed 04/17/11 Doc 1 Pg. 3 of 10

Equity Holders

Palomar Hangar, LLC, a Corporation Case No.Chapter

SOUTHERN DIVISIONSOUTHERN DISTRICT OF CALIFORNIAUNITED STATES BANKRUPTCY COURT

11In re

/ Debtor

Attorney for Debtor: JOSEPH REGO

LIST OF EQUITY SECURITY HOLDERS

Number Registered Name of Holder of Security Number ofShares

Class of Shares, Kind of Interest

Todd Macaluso2100 Palomar Airport RoadSuite 221CARLSBAD CA 920111

1 100 Membership Interest

Page of 1 2

Case 11-06308-11 Filed 04/17/11 Doc 1 Pg. 4 of 10

LIST OF EQUITY SECURITY HOLDERS

DECLARATION UNDER PENALTY OF PERJURY ON BEHALF OF A CORPORATION

I,Todd Macaluso Managing Member of the corporation

debtor in this case, declare under penalty of perjury that I have read the foregoing List of Equity Security Holders and that they are true and correct to the

best of my knowledge, information and belief.

Date: 3/9/2011 Signature:

Todd MacalusoManaging Member

Name:

Title:

named as,

/s/ Todd Macaluso

Page of 2 2

Case 11-06308-11 Filed 04/17/11 Doc 1 Pg. 5 of 10

G

G

CALIFORNIASOUTHERN

11

Palomar Hangar, LLC, a Corporation

3/ 9/2011 /s/Todd Macaluso

Todd Macaluso

Managing Member

Managing Member

Case 11-06308-11 Filed 04/17/11 Doc 1 Pg. 6 of 10

RESOLUTIONS ADOPTED BY MANAGING MEMBEROF PALOMAR HANGAR, LLC

The undersigned, constituting the managing member (the "Manager") ofPalomar Hangar, LLC (the "Company"), duly adopts the following resolutions:

RESOLVED, that in the judgment ofthe Manager it is desirable and in the' bestinterests of the Company that a petition be filed by the Company seeking relief under theprovisions of chapter II of title II of the United States Code (the "Bankruptcy Code"),and the filing of such petition is authorized hereby; and

IT IS FURTHER RESOLVED, that Todd Macaluso, individually (the"Authorized Person"), be, and hereby is, authorized and empowered, on behalf of and inthe name of the Company, to execute and verify a petition in the name of the Companyunder chapter 1 I of the Bankruptcy Code and to cause the same to be filed in the UnitedStates Bankruptcy Court in such form and at such time as the Authorized Person shalldetermine; and

IT IS FURTHER RESOLVED, that the Authorized Person be, and hereby is,authorized and empowered, on behalf of and in the name of the Company, to execute"verify andlor file, or cause to be executed, verified andlor filed (or direct others to do soon his behalf as provided herein) aU necessary documents, including, without limitation,all petitions, affidavits, statements, schedules, motions; lists, applications, pleadings andother papers, and in that connection to employ and retain all assistance by legal counsel,accountants or other professionals, and to take any and all action which he deemsnecessary and proper in 'connection with the chapter 11 case, with a view to thesuccessful prosecution of such case; and

IT IS FURTHER RESOLVED, that the Company, either prior to the filing of achapter 11 petition or as a debtor and debtor in possession under chapter 11 of theBankruptcy Code, be, and hereby is, authorized to obtain the use of cash collateral or toborrow money in such amounts and on such terms as may be agreed by the AuthorizedPerson, including the grant of liens on the Company' sassets as is reasonably necessaryfor the continuing conduct of the affairs of the Company and certain of its subsidiaries;and

IT IS FURTHER RESOLVED, that the Authorized Person be, and hereby is,authorized and empowered, on behalf of and in the name of the Company, to retainprofessionals to render services to the Company in connection with the chapter II case,including, without limitation, Joseph J Rego to act as chapter II counsel; and

IT IS FURTHER RESOLVED, that the Authorized Person be, and hereby is,authorized and empowered, on behaifofand in the name of the Company, to take orcause to be taken any and all such further action and to execute, deliver, verify and/orfile, or cause to be executed, delivered, verified andlor filed (or direct others to do soon

Case 11-06308-11 Filed 04/17/11 Doc 1 Pg. 7 of 10

its behalf as provided herein) all such further documents, agreements, instruments,financing statements, notices, undertakings, certificates and other writings, and to incurall such fees and expenses as in his judgment shall be necessary, appropriate or advisablein the good faith judgment of such Authorized Person to effectuate the purpose and intentof any and all of the foregoing resolutions; and

IT IS FURTHER RESOLVED, that the Authorized Person be, and hereby is,authorized and empowered, on behalf of and iii the name of the Company, to pay anddirect the payment of all fees and expenses incurred in connection with the transactionscontemplated by these resolutions; and

IT IS FURTHER RESOLVED, that all acts lawfully done or actions lawfullytaken by the Authorized Person to seek relief on behalf of the Company under chapter IIof the Bankruptcy Code, or in connection with the chapter 11 case, or any matter relatedthereto, be, and hereby are, adopted, ratified, confmned and approved in all respects asthe acts and deed of the Company.

IN WIlNESS WHEREOF, the undersigned have adopted the above resolutionsas of the date ofthe last signature below.

Date: April 17, 2011Todd Macaluso

Case 11-06308-11 Filed 04/17/11 Doc 1 Pg. 8 of 10

JOSEPH REGOTHE LAW OFFICE OF JOSEPH REGO8765 AERO DRIVESUITE 306San Diego, CA 92123858-598-6628163183

UNITED STATES BANKRUPTCY COURT

SOUTHERN DIVISIONSOUTHERN DISTRICT OF CALIFORNIA

In re Palomar Hangar, LLC, a CorporationChapter 11Case No.

Attorney for Debtor: JOSEPH REGO/ Debtor

VERIFICATION OF CREDITOR MATRIX

Part I

New petition filed. Creditor diskette required.

Conversion filed on:

Former Chapter 13 converting. Creditor diskette required

There are no post-peition creditors. No matrix required.

Post-petition creditors added. Scannable matrix required.

Amendment or Balance of Schedules filed concurrently with this original scanable matrix affectiing Schedule of Debtsand/or Schedule of Equity Security Holders.

Names and addresses are being ADDED.Names and addresses are being DELETED.Names and addresses are being CORRECTED.

Part II

The above-named Debtor(s) hereby verifies that the attached list of creditors is trueand correct to the best of my (our) knowledge.

(check one):

(check and complete one):

The above-named Debtor(s) hereby verifies that there are no post-petition creditorsaffected by the filing of the conversion of this case and that the filing of a matrix is not required.

TOTAL NO. OF CREDITORS

TOTAL NO. OF CREDITORS

3

___________________

Debtor:Date: 3/ 9/2011 /s/ Todd Macaluso

Case 11-06308-11 Filed 04/17/11 Doc 1 Pg. 9 of 10

COUNTy Assessor1600 Pacific HighwayRoom 103SAN DIEGO, CA 92101

PREMIER Jet2100 Palomar Airport RoadCARLSBAD, CA 92011

TD SERVICE COMPANY 1820 E. FIRST STREETSUITE 210SANTA ANA, CA 92705

WELLS FARGO BANK P.O. Box 7666SUITE 260DIAMOND BAR, CA 91765

Case 11-06308-11 Filed 04/17/11 Doc 1 Pg. 10 of 10