Daily News: August 20, 2012

Hawker Beechcraft Requests More Time to File Chapter 11 Plan

According to bankruptcy court documents filed in the U.S. Bankruptcy Court Southern District of New York, Hawker Beechcraft has filed a motion seeking more time to file a Chapter 11 plan through and including December 29, 2012, and the exclusive period to solicit acceptances of a Chapter 11 plan of each debtor through and including February 27, 2013.

The plane maker said it needs more time to evaluate and pursue both emerging from bankruptcy as a stand-alone company and emerging through a third-party sale. In July, Hawker was authorized by the court to enter into an exclusive agreement with Superior Aviation Beijing as a stalking-horse bidder. The company is currently engaged in negotiations with Superior regarding a binding agreement that incorporates the terms of Superior