India, Oct. 13 -- Verijet, the 13th-largest private jet operator in the US, filed for Chapter 7 bankruptcy, according to Forbes. The filing comes less than a month after Richard Kane, the founder and CEO of the Florida-based charter and jet card operator, died of a heart attack.

According to Forbes, a receiver overseeing Verijet filed for Chapter 7 bankruptcy last week. As per The Street, the Florida-based airline, which amassed more than $38.7 million in liabilities, faced several lawsuits after its founder and CEO, Richard Kane, passed away in September this year.

According to the outlet, the filing was submitted in the 11th Circuit of the United States Bankruptcy Court for the Southern District of Florida. Chapter 7 bankruptcy allows...