Judge Lets Hawker Beechcraft Negotiate With Chinese Bidder

Law360, New York (July 17, 2012, 7:23 PM EDT) -- A New York bankruptcy judge on Tuesday allowed Hawker Beechcraft Inc. to enter into an exclusive negotiating and refund agreement with Chinese bidder Superior Aviation Beijing Co. Ltd., which has offered to buy most of the company's assets for nearly $1.8 billion.

U.S. Bankruptcy Judge Stuart M. Bernstein granted approval to the aircraft maker's request to enter into exclusive negotiations with Superior, which is 40 percent-owned by the city of Beijing, overruling an objection filed by the Machinists union. The union had argued that the sale...
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