Hawker Beechcraft Disclosure Statement Approved By Bankruptcy Court | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 02.01.16

Airborne 02.02.16

Airborne 02.03.16

Airborne 02.04.16

Airborne 02.05.16

Airborne Hi-Def On YouTube

Airborne 02.01.16

Airborne 02.02.16

Airborne 02.03.16

Airborne 02.04.16

Airborne 02.05.16

Fri, Dec 07, 2012

Hawker Beechcraft Disclosure Statement Approved By Bankruptcy Court

Company Will Seek Approval To Exit Bankruptcy At January 31 Hearing

Hawker Beechcraft said Wednesday that the Disclosure Statement filed in connection with the company's Joint Plan of Reorganization (POR) has been approved by the U.S. Bankruptcy Court for the Southern District of New York. Court approval of the adequacy of the Disclosure Statement allows Hawker Beechcraft to begin soliciting approval of the POR from its creditors. The POR is supported by the Official Committee of Unsecured Creditors, and holders of a majority of the obligations under the company's pre-petition credit facility and senior unsecured bonds have also committed to support it.

The voting process will be completed by Jan. 22, 2013, and the company will seek approval from the Court to exit bankruptcy at the confirmation hearing scheduled for Jan. 31, 2013.

Upon its emergence from Chapter 11, the company plans to enter into a new financing facility of at least $525 million, consisting of a term loan and a revolving line of credit, that will be used to repay the debtor-in-possession (DIP) post-petition credit facility, issue letters of credit to replace the DIP and fund ongoing operations.

As part of its reorganization, the company intends to rename itself Beechcraft Corporation and implement a business plan that focuses on its turboprop, piston, special mission and trainer/attack aircraft – the company's leading products – and on its parts, maintenance, repairs and refurbishment businesses, all of which are profitable and have high growth potential.

FMI: www.hawkerbeechcraft.com

Advertisement

More News

Navy's UAV Could Be A Tanker

Carrier-Based Unmanned Gas Station Might Be Result Of X-47B Program While there was much speculation about the ultimate role for the Navy's unmanned X-47B aircraft that demonstrate>[...]

Airborne 02.05.16: Collier Trophy Noms, NJ Homeowner Nonsense, Flight Design USA

Also: A-10 Survives, The Essential Aero-Community, Miami Seaplanes, ERAU WACO, Jeppesen Leadership, ADS-B Kickstarter, Guilty Non-Pilot The National Aeronautic Association announce>[...]

Aero-News: Quote Of The Day (02.07.16)

“The 13 CubeSats that will fly to deep space as secondary payloads aboard SLS on EM-1 showcase the intersection of science and technology, and advance our journey to Mars.&rd>[...]

ANN's Daily Aero-Linx (02.07.16)

Aero Linx: The Lancair Owners and Builders Organization (LOBO) The Lancair Owners and Builders Organization (LOBO) promotes the safe use of Lancair Aircraft through education, trai>[...]

ANN's Daily Aero-Term (02.07.16): Localizer Offset

Localizer Offset An angular offset of the localizer from the runway extended centerline in a direction away from the no transgression zone (NTZ) that increases the normal operating>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2016 Web Development & Design by Pauli Systems, LC