Tue, Jun 05, 2012
Lawyer Tells Court It Is Under Considerations
A lawyer representing Hawker Beechcraft in bankruptcy proceedings told a court late last week that the company is open to the idea of its being sold, and the Dow Jones Daily Bankruptcy Review indicates that interested parties have until June 7th to submit documentation of their bids for HBC.
The Wichita Eagle reports that there were several developments in the proceedings last week. Judge Stuart Bernstein ruled that HBC could continue to borrow against a $400 million loan made by 4 senior lenders. He also approved changes in documents relating to that loan extending a window for an investigation of the company's leveraged buyout in 2007. HBC's unsecured creditors and the Pension Benefit Guaranty Corp now have until August 10th to complete that investigation.
The judge also approved motions allowing HBC to continue to pay its employees as well as financial consultants on retainer through the firm Perella Weinberg Partners and other bankruptcy professionals.
HBC Executive Vice President Shawn Vick told the paper that the "divestiture" option was just one of many possible outcomes, and that the company had undertaken a "modeling exercise" to explore those options, and the talk of a possible sale should not be taken out of context.
Says Disregard For Rulemaking Process Warrants Withdrawal Of Cylinder AD Proposal The Aeronautical Repair Station Association (ARSA) has warned the FAA that its disregard of basic >[...]
Fee To Increase 124 Percent If The Deal Goes Through The budget deal worked out between Republican Congressman Paul Ryan and Democratic Senator Patty Murray would boost a tax paid >[...]
Also: Pilot Shortage, 777X Hopefuls, Volcano Warning, F/A-18 Anniversary, Pearl Harbor Vet Mistreated by Airline It flies... and apparently does so fairly well. The joint venture b>[...]
The Boultbee Academy This site came to our attention from a story about actor Brad Pitt purchasing a Spitfire airplane. This is where he will learn to fly his new acquisition.>[...]
The function performed by the FMS/ RNAV to alert the pilot at some time or distance prior to, or when reaching, the active waypoint.>[...]