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: MU-2 AOA, AMA Responds To Senate FAA Reauthorization, ANN@AEA Live 04/27-0830ET, ANN@AEA Live 04/28-1400ET, ANN@AEA Live 04/29-1100ET A report of a drone possibly colliding w>[...]
Gowdy Brothers Aerospace Looks To The Future Of Non-Recreational UAS Use FAA Airman and Airspace Rules Division announces 5,076 approved Section 333 petition grants. The FAA furthe>[...]
"Working together, we have accomplished a truly incredible amount in the last couple of years. But we’re still really at the beginning of the process. We need to start thinki>[...]
Aero Linx: Alaskan Aviation Safety Foundation The foundation was created to improve aviation safety in Alaska thorough education, advocacy and research. We are a non-profit members>[...]
Common Point A significant point over which two or more aircraft will report passing or have reported passing before proceeding on the same or diverging tracks. To establish/mainta>[...]