Debt restructuring

July 3, 2012 - 3:40am

As of mid-June the next hurdle for Hawker Beechcraft was the June 30 deadline to file its plan of reorganization with the U.S. Bankruptcy Court in Manhattan.

“The plan provides specific details regarding how the company plans to pay creditors and allow the business to be successful in the long term,” said an HBC spokeswoman.

May 3, 2012 - 5:23pm
Hawker Beech files for Chapter 11 bankruptcy protection

Hawker Beechcraft announced at 3:30 p.m. EST today that it has reached an agreement with a “significant number” of its senior secured lenders and senior bondholders on the terms of a financial restructuring plan that will “strengthen the company for the future and eliminate approximately $2.5 billion in debt and approximately $125 million of annual cash interest expense.” To move this process forward, the Wichita-based OEM and certain of its subsidiaries today filed voluntary petitions under the Chapter 11 bankruptcy code.

 
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