Hawker Beechcraft Seeks To Extend Exclusivity

By: Associated Press
By: Associated Press

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Thursday, August 30, 2012

Aircraft maker Hawker Beechcraft has requested more time to file a plan to emerge from bankruptcy.

The Wichita-based company wants to extend until at least Dec 29 the exclusivity period to file its Chapter 11 plan. Expiration of the exclusivity period allows creditors to file competing plans.

Hawker Beechcraft also wants until Feb. 27 to solicit acceptance of the plan from each debtor.

No objections to either request were filed ahead of a hearing Thursday in federal bankruptcy court in New York.

Hawker Beechcraft says it needs more time to pursue possible emergence from bankruptcy as a stand-alone company or through a third-party sale.

The company has noted the complexity of its bankruptcy, which involves 18 entities, 5,400 employees and $2.4 billion in debt.

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