May 7, 2012
The Daily Bankruptcy Review article, "Judge Says Hawker Beechcraft Can Tap $400 Million Loan," reported that Judge James Peck, U.S. Bankruptcy Court in Manhattan, granted Hawker permission to borrow on a loan backstopped by its four senior lenders to continue to pay its 5,420 employees. Hawker filed for bankruptcy protection on May 3, 2012. In court, on May 4, the parties also discussed Hawker's pension obligations. The article quoted special counsel Benjamin D. Feder as the lawyer for the Pension Benefit Guaranty Corporation, the government's pension insurer. Mr. Feder noted the pension issue would be decided upon on another future date.