Judge Grants Bankruptcy Extension for Hawker Beechcraft

AINalerts » August 30, 2012
August 30, 2012, 4:35 PM

In response to a request by Hawker Beechcraft seeking a 120-day extension of the exclusive period during which only the company can file a reorganization plan, a judge in U.S. Bankruptcy Court in New York today agreed to maintain exclusivity through the end of February. Also today, in a separate hearing, the court acted to reserve decision in the case of Pilatus Aircraft’s claim that Hawker Beechcraft owes it more than $1 million in royalties for use of intellectual property in production of the Wichita OEM’s T-6 military trainer.

Meanwhile, a Hawker Beechcraft spokeswoman told AIN that negotiations being held in Wichita for the purchase of the aircraft manufacturer by Superior Aviation of Beijing “continue to progress and we are actively working with our lenders and other key stakeholders regarding a binding agreement that incorporates the terms of Superior’s proposal announced last month.” The exclusivity deadline in those negotiations is Saturday.

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