Law360, New York (February 01, 2013, 7:25 PM ET) -- A New York federal bankruptcy judge on Friday approved the $1.7 billion Chapter 11 plan of Hawker Beechcraft Inc. one day after the aviation company reached an agreement with employees and retirees over pension benefits.
The plan, approved by U.S. Bankruptcy Judge Stuart M. Bernstein, will convert $1.7 billion in secured debt into equity. The company plans to emerge from Chapter 11 as a stand-alone company named Beechcraft Corp., focused on its profitable turboprop and piston aircraft business.
“Today’s ruling marks the final significant step in...
Hawker Beechcraft's Ch. 11 Plan Gets Judge's Approval
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