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Latest Debtor-in-possession financing Stories

2011-02-16 21:20:00

NEW YORK, Feb. 16, 2011 /PRNewswire/ -- Borders Group Inc. today announced that the U.S. Bankruptcy Court for the Southern District of New York has approved its $505 million in Debtor-in-Possession (DIP) financing led by GE Capital, Restructuring Finance. Borders will use the funds, among other things, to pay vendors, publishers and other suppliers for post-petition goods and services and to operate its day-to-day business. (Logo:...

2011-02-16 06:15:00

ANN ARBOR, Mich., Feb. 16, 2011 /PRNewswire-FirstCall/ -- "It has become increasingly clear that in light of the environment of curtailed customer spending, our ongoing discussions with publishers and other vendor related parties, and the company's lack of liquidity, Borders Group does not have the capital resources it needs to be a viable competitor and which are essential for it to move forward with its business strategy to reposition itself successfully for the long term. To...

2011-02-11 11:30:00

VANCOUVER, Feb. 11 /PRNewswire-FirstCall/ - Angiotech Pharmaceuticals, Inc. ("Angiotech" or the "Company") announced that the Company and certain of its subsidiaries have entered into a definitive agreement with Wells Fargo Capital Finance LLC ("Wells Fargo") in respect of the previously announced debtor-in-possession credit facility ("DIP Facility").  The DIP Facility will provide liquidity for working capital, general corporate purposes and expenses while the Company implements...

2010-10-27 12:10:00

DALLAS, Oct. 27 /PRNewswire-FirstCall/ -- Blockbuster Inc. (OTHER OTC: BLOKA, BLOKB), a leading global provider of rental and retail movie and game entertainment, today announced that it has received final authorization from the U.S. Bankruptcy Court for the Southern District of New York to obtain $125 million in "debtor-in-possession" (DIP) financing from certain of the Company's senior noteholders. This funding is available to help Blockbuster meet its obligations to customers, suppliers...

2010-10-19 15:48:00

RESTON, Va., Oct. 19 /PRNewswire-FirstCall/ -- TerreStar Corporation (Nasdaq: TSTR) ("TerreStar") announced today that its majority-owned subsidiary TerreStar Networks Inc. and certain other affiliates have filed voluntary petitions for reorganization under chapter 11 of the U.S. Bankruptcy Code as part of a strategic plan to strengthen their financial position and achieve long-term success in the mobile satellite services market. Through the restructuring, TerreStar Networks hopes to...

2010-09-23 04:11:00

DALLAS, Sept. 23 /PRNewswire-FirstCall/ -- Blockbuster Inc. (Pink Sheets: BLOKA, BLOKB), a leading global provider of rental and retail movie and game entertainment, today announced that it has reached agreement with a group of bondholders holding approximately 80.1 percent principal amount of the Company's 11 3/4 percent senior secured notes (the "Senior Noteholders") on the material terms of a plan to recapitalize its balance sheet and put the Company in a stronger financial position...

2010-08-25 19:23:00

THE WOODLANDS, Texas, Aug. 25 /PRNewswire-FirstCall/ -- Trico Marine Services, Inc. (Nasdaq: TRMA) (the "Company" or "Trico") today announced that its U.S. companies and its Cayman Islands holding company have filed voluntary petitions for relief under Chapter 11 of Title 11 of the United States Code ("U.S. Bankruptcy Code") in the United States Bankruptcy Court for the District of Delaware (the "Court"). Aside from the Cayman Islands holding company, Trico's foreign subsidiaries were...

2010-05-27 17:49:00

DALLAS, May 27 /PRNewswire/ -- TriDimension Energy, L.P. and seven of its affiliated companies (Axis E&P, LP, Axis Onshore, LP, Axis Marketing, LP, Ram Drilling, LP, TDE Property Holdings, LP, TDE Operating GP LLC, and TDE Subsidiary GP LLC) (collectively, the "Company") filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division, on May 21, 2010. Although the...

2010-05-27 14:04:00

NOVI, Mich., May 27 /PRNewswire/ -- Cooper-Standard Holdings Inc., the parent company of Cooper-Standard Automotive Inc., announced today that it, along with its subsidiaries that also filed for chapter 11 protection, has emerged from bankruptcy and that its Second Amended Joint Chapter 11 Plan of Reorganization became effective today. "Emergence from chapter 11 represents the final milestone in the reorganization process and marks a new beginning for the Company," said James S....

2010-05-17 17:40:00

MIAMI, May 17 /PRNewswire/ -- As previously announced, Neff Rental, Inc. (the "Company"), a national, privately owned construction equipment rental company, and certain of its affiliates have commenced a prearranged reorganization under Chapter 11 of the United States Bankruptcy Code to deleverage the Company's balance sheet and eliminate more than $400 million of debt. Today, the Company announced that it has received Bankruptcy Court approval of its "first day" motions at a hearing in...


Word of the Day
omphalos
  • The navel or umbilicus.
  • In Greek archaeology: A central boss, as on a shield, a bowl, etc.
  • A sacred stone in the temple of Apollo at Delphi, believed by the Greeks to mark the 'navel' or exact center-point of the earth.
'Omphalos' comes from the ancient Greek.
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