Thursday, December 6, 2012
Hawker Beechcraft to Begin Reorganization Plan Following Court Approval
Hawker Beechcraft can begin seeking approval of its Joint Plan of Reorganization (POR) from creditors, following a U.S. Bankruptcy court’s approval of the disclosure statement it filed in connection with the POR.
In October the company announced its post bankruptcy plans to rename itself Beechcraft Corp. and focus on its product lines that are highest in demand, including turboprop, piston, special mission and trainer aircraft. The POR will now be voted on by its creditors, a vote to approve the POR will lead the company to seek court approval to exit bankruptcy during a confirmation hearing scheduled in January.
The company is confident that its creditors will approve the proposed POR, which already has approval from the Official Committee of Unsecured Creditors. More