HBC Receives Court Approval Of First-Day Motions | 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

AMA Drone Report

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday

Airborne-Thursday

Airborne-Friday

Airborne On ANN

ADR 02.27.17

Airborne 02.27.17

Airborne 02.28.17

Airborne 02.22.17

Airborne 02.23.17

Airborne 02.24.17

Airborne-HD On YouTube

ADR 02.27.17

Airborne 02.27.17

Airborne 02.28.17

Airborne 02.22.17

Airborne 02.23.17

Airborne 02.24.17

Tue, May 08, 2012

HBC Receives Court Approval Of First-Day Motions

Company Will Continue To Operate Normally During Reorginazation

The U.S. Bankruptcy Court for the Southern District of New York has granted approval of the "First Day Motions" filed by Hawker Beechcraft as part of the company's voluntary filing for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Approval of these motions will enable Hawker Beechcraft to continue to operate in the ordinary course of business during the reorganization process. 

Hawker Beechcraft received approval to continue to pay employees, and to pay all vendors and suppliers in the ordinary course for goods and services delivered after the commencement of the Chapter 11 case. The company will utilize a commitment for $400 million in Debtor-in-Possession (DIP) financing, negotiated as part of the prearranged restructuring, to meet these obligations.

Hawker Beechcraft's cases are being presided over by the Honorable Judge Stuart Bernstein  of the U.S. Bankruptcy Court for the Southern District of New York. Hawker Beechcraft's jointly administered case number is Hawker Beechcraft Inc., 12-11873.

On May 3, 2012, Hawker Beechcraft, Inc. and a significant number of its senior secured lenders and senior bondholders agreed to the terms of a financial restructuring plan that will eliminate approximately $2.5 billion in debt and approximately $125 million of annual cash interest expense and strengthen the company for the future.

The company's legal representative is Kirkland & Ellis LLP, its financial advisor is Perella Weinberg Partners LP, and its restructuring advisor is Alvarez & Marsal.

FMI: www.hawkerbeechcraft.com

Advertisement

More News

SpaceX To Send Privately Crewed Dragon Spacecraft Beyond The Moon Next Year

Two Private Citizens Have Paid A 'Significant Deposit' To Fly In Space Aboard Dragon 2 SpaceX has been approached to fly two private citizens on a trip around the moon late next ye>[...]

AMA Drone Report 02.27.17: DJI Rumors, UAV Sighting Report, Another City Ban

Also: Hover Camera Passport, Utah Drone Festival, An Early Report on AMA Expo East Generating buzz is good marketing, and DJI was doing so with a Tweet announcing new products for >[...]

AMA Drone Report 02.27.17: DJI Rumors, UAV Sighting Report, Another City Ban

Also: Hover Camera Passport, Utah Drone Festival, An Early Report on AMA Expo East Generating buzz is good marketing, and DJI was doing so with a Tweet announcing new products for >[...]

Airborne 02.27.17: Skydive Myrtle Beach, P-51 Mustangs!, Piper Positive

Also: ANN's Infamous April 1st Edition, Giant OV-10, Thrush 510P, Aerojet Rocketdyne, FAI Air Ambulance, Daher, NASA Art Following years of egregious county misbehavior, the owner >[...]

Airborne 02.27.17: Skydive Myrtle Beach, P-51 Mustangs!, Piper Positive

Also: ANN's Infamous April 1st Edition, Giant OV-10, Thrush 510P, Aerojet Rocketdyne, FAI Air Ambulance, Daher, NASA Art Following years of egregious county misbehavior, the owner >[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2017 Web Development & Design by Pauli Systems, LC