Hawker Beechcraft’s Disclosure Statement filed in conjunction with the company’s Joint Plan of Reorganization has been approved by the U.S. Bankruptcy Court for the Southern District of New York.
You may recall from Hawker Beechcraft’s pre-NBAA press release that the company was set to have a hearing on November 15. With this hearing out of the way and the Disclosure Statement approved, the voting on the Plan of Reorganization is set to begin by the company’s creditors. The voting process will be complete by January 22, 2013, and the hearing to receive approval from the Court to exit bankruptcy will take place on January 31, 2012.
After the final hearing, and assuming the company is granted permission to exit bankruptcy, Beechcraft Corporation will emerge and continue moving forward as a great company and great manufacturer of turboprop, piston, special mission, and trainer/attack aircraft. The company will also be concentrating attention on its parts, maintenance, repairs, and refurbishment businesses.
Long live the KingAir!
View the full release from Hawker Beechcraft here:
http://newsroom.hawkerbeechcraft.com/news/hawker-beechcraft-disclosure-statement-approved-by-bankruptcy-court/