Company Must Make Technical Modifications To The Plan Before It Can Be Finalized
Following its appearance in the U.S. Bankruptcy Court Thursday for the Southern District of New York, Hawker Beechcraft said in a statement that Judge Stuart M. Bernstein said he would approve the Joint Plan of Reorganization (Plan) for all but one of its subsidiaries currently under Chapter 11 protection.
Far exceeding the customary expectations of workers at a bankrupt company, a federal bankruptcy judge in New York today approved a settlement that preserves pension benefits for more than 3,000 members of the International Association of Machinists and Aerospace Workers (IAM) at Hawker Beechcraft Corp. (HBC) in Wichita, KS.
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