Hawker Nears End Of Bankruptcy As Judge OKs Pension Deal

Law360, New York (January 31, 2013, 3:33 PM EST) -- A New York bankruptcy judge on Thursday held off on approving Hawker Beechcraft Inc.’s Chapter 11 reorganization plan, but did give the aircraft maker's deal with the Pension Guaranty Benefit Corp. a green light as it moves closer to ending its nine-month bankruptcy.

At a hearing Thursday, U.S. Bankruptcy Judge Stuart Bernstein appeared satisfied with the majority of the reorganization plan, which will allow Hawker to exit bankruptcy by converting $1.7 billion in secured debt into equity. But he told Hawker lawyers that he wanted clarification...
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