Hawker's New Ch. 11 Plan Ditches Jet Product Line

Law360, New York (October 30, 2012, 7:29 PM EDT) -- Hawker Beechcraft Inc. on Monday submitted an amended Chapter 11 plan that envisions a reorganized version of the aviation company likely without its jet product line, and removes from the table a deal like the recently failed $1.8 billion sale to a Chinese-owned firm.

Instead of selling the majority of its assets, Hawker Beechcraft will secure exit financing and leave Chapter 11 as a stand-alone company, according to the amended reorganization plan and disclosure statement filed in New York bankruptcy court.

“The plan provides for a...
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