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.
Numerous Flights Cancelled Saturday Britain's Air Traffic Control system suffered what was described as a "technical problem" Saturday resulting in widespread cancellations of flig>[...]
Also: Bell 47 Update, USSC Aero-Legal Decision Coming, Evergreen Kaput, Blue Angels Full Sked The U.S. Air Force Thunderbirds demonstration team is on the airshow circuit again. Ev>[...]
Designed To Pull Spacecraft Away From A Failing Booster In Launch Emergency Scenario NASA engineers and contractors have successfully completed the Orion Launch Abort System (LAS) >[...]
The Aero Experience A blog focusing on GA and sport aviation in the midwest.>[...]
The runway length declared available and suitable for the ground run of an airplane taking off.>[...]