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.
Also: LA Times v SMO, APS UAT Program, Gordon Bennett 2016, Tucson Control Tower, Hubble Find, Southwest Airlines, Iowa State Another new small unmanned aerial system is now on the>[...]
Aerobatic Pilot Sean Tucker Receives The 2016 Lloyd P. Nolen Lifetime Achievement In Aviation Award Aerobatic pilot Sean D. Tucker has been named the recipient of the Lloyd P. Nole>[...]
Rockets Carrying As Many As 200 People Could Leave For The Neighboring Planet In 'Decades' No one can deny that Elon Musk thinks big, and in a speech at the International Astronaut>[...]
Determines That The Missile 'Came From Russia' The Buk missile that destroyed Malaysia Airlines Flight MH17 over eastern Ukraine in 2014 came from Russia, according to a Dutch-led >[...]
Weather And Other Key Information Available Using The SXAR1 Portable Receiver Today ForeFlight and SiriusXM introduced SiriusXM Aviation weather service on the newest version of Fo>[...]