Friday, August 17, 2012
Hawker Beechcraft has asked the court for more time to file its plan to emerge from bankruptcy.
The Wichita-based plane maker asked the bankruptcy court on Thursday to extend until at least Dec 29 the exclusivity period to file a Chapter 11 plan. It also wants to extend until Feb. 27 the time to solicit acceptance of the plan from each debtor.
After the exclusivity period expires, creditors may file competing plans.
Hawker Beechcraft says it needs more time to evaluate and pursue both emerging from bankruptcy as a standalone company and emerging through a third-party sale.
The company also noted the complexity of its bankruptcy, which involves 18 Hawker Beechcraft entities, 5,400 employees and $2.4 billion in debt.
A hearing on the motion is scheduled for Aug. 30.