Verified Identity Pass, a company that allowed airline passengers who paid a yearly fee to use a private security line dubbed Clear, may be back in business.
Kurtis Fechtmeyer, an investment banker from Emeryville, Calif., wants to buy the bankrupt company and start it up again by the winter holidays, The New York Times reported.
Fechtmeyer’s new investment group has signed a letter of intent with Morgan Stanley, the defunct firm’s largest debt holder, to buy its assets. Former Clear members, some of whom had paid for years of the service in advance, would be offered the option of rejoining with their membership intact.
