Hawker Beechcraft Seeks More Time to File Plan
Associated Press - Fri 10:57 AM 08/17/2012
The Wichita-based plane maker asked the bankruptcy court on Thursday to extend until at least December 29 the exclusivity period to file a Chapter 11 plan.
Hawker Beechcraft has asked the court for more time to file its plan to emerge from bankruptcy.
The Wichita-based plane maker asked the bankruptcy court on Thursday to extend until at least Dec. 29 the exclusivity period to file a Chapter 11 plan. It also wants to extend until Feb. 27 the time to solicit acceptance of the plan from each debtor.
After the exclusivity period expires, creditors may file competing plans.
Hawker Beechcraft says it needs more time to evaluate and pursue both emerging from bankruptcy as a standalone company and emerging through a third-party sale.
The company also noted the complexity of its bankruptcy, which involves 18 Hawker Beechcraft entities, 5,400 employees and $2.4 billion in debt.
A hearing on the motion is scheduled for Aug. 30.
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troy
Friday 17 August 2012 18:28 Report this comment
Unions! 5,400 union employees on the chopping block with no one to blame but themselves. Sad.
IamMe
Friday 17 August 2012 22:11 Report this comment
And coming from someone who is living off of daddy? Amazing.
troy
Saturday 18 August 2012 07:55 Report this comment
What?