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-Unmanned w/AUVSI

Airborne On ANN

AMA 04.20.17

Airborne
04.24.17

Airborne
04.25.17

Airborne
04.26.17

Airborne
04.27.17

Airborne
04.21.17

Airborne-Unmanned 04.25.17

Airborne-YouTube

AMA 04.20.17

Airborne
04.24.17

Airborne
04.25.17

Airborne
04.26.17

Airborne
04.27.17

Airborne
04.21.17

Airborne-Unmanned 04.25.17

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

AMA Drone Report 04.20.17: Phantom 4 Advanced, NJ NIMBYism, AMA-DJI Team Up

Also: AUVSI XPO17 LIVE!, Steady Drone Sales, Drone v Shotgun... DJI’s new Phantom 4 Advanced offers a more powerful camera and more upgraded controls. The new upgrades the or>[...]

The 2017 Planes of Fame Air Show At The Chino Airport Will Go On As Planned

But Tenants Who Filed Suit Will Seek Changes In Oversight For 2018 Show The group of plaintiffs filing suit against Planes of Fame have withdrawn the motion for a preliminary injun>[...]

Airborne 04.26.17: Kitty Hawk Flyer, Mooney CEO Departs, Part 23 Training

Also: Sun 'n Fun, North Dakota, Turbulence, Canadian Drones, Voyageur Aviation, Oxford Airport, Drone Classes A major player in the online world, Google’s Larry Page, has ent>[...]

Airborne 04.25.17: Vietnam Helicopter Museum, Gleim Virtual Cockpit, Av Police

Also: Airport Fight, Aero-Calendar, H145, A321neo, Emirates, Airspace Workshops, Jeppesen A claim of discrimination has been filed against Contra Costa County, CA by the Vietnam He>[...]

AD: Rolls-Royce plc Turbofan Engines

AD NUMBER: 2017-08-10 PRODUCT: All Rolls-Royce plc (RR) RB211-Trent 970-84, RB211-Trent 970B-84, RB211-Trent 972-84, RB211-Trent 972B-84, RB211-Trent 977-84, RB211-Trent 977B-84, a>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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