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

Airborne Unlimited-
Monday

Airborne-Unmanned w/AUVSI-
Tuesday

Airborne Unlimited-
Wednesday

AMA Drone Report-
Thursday

Airborne Unlimited-
Friday

Airborne On ANN

Airborne 04.23.18

Airborne-UnManned 04.24.18

Airborne 04.25.18

AMA Drone Report 04.26.18

Airborne 04.20.18

Airborne-YouTube

Airborne 04.23.18

Airborne-UnManned 04.24.18

Airborne 04.25.18

AMA Drone Report 04.26.18

Airborne 04.20.18

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

UPDATE: The Dirtiest of Washington Politics? -- ATC Privatization By Deception?

Stunning, Deceptive, Dirty Politics... Shuster Is At It Again, But This Time We Need To React FAST! ANN RealTime News Update, 04.24.18, 2302 ET: Well... initial info suggests that >[...]

AMA Drone Report 04.19.18: AMA Leadership, FAA Reauthorization, Coachella

Also: New French Regs, Drone Boot Camp, Public Safety Drone Standards, DroneShield Protects NASCAR It’s a little bit sad and yet a bit cool to see AMA make an exciting change>[...]

Airborne/Barnstorming 04.23.18: We Can Do So Much Better...

I'll Admit It... We're A Mite Frustrated, But We're ALSO Not Quitting... Ever Comments/Analysis/News/Video by ANN CEO/Editor-In-Chief, Jim Campbell We've accomplished so much over >[...]

Airborne 04.23.18: Hemisphere Suspended, Thunderbirds Fly, Apple v Drones

Also: New NASA Administrator, AD For CFM56-7B, Engine Display Upgrade On C-441, First BBJ MAX Textron Aviation has suspended work on the Citation Hemisphere large business jet, cit>[...]

ANNouncement: Now Accepting Applications For Oshkosh 2018 Stringers!!!

An Amazing Experience Awaits The Chosen Few... E-I-C Note: There's very little we can say yet, but there is a reason why this may be THE year to throw in with ANN to cover the extr>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2018 Web Development & Design by Pauli Systems, LC