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Latest Debtor-in-possession financing Stories

2009-11-15 19:47:00

TROY, Mich., Nov. 15 /PRNewswire-FirstCall/ -- Champion Enterprises, Inc. (NYSE: CHB), a leader in factory-built construction, today announced that it and its domestic operating subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The Company is taking this action to improve its capital structure and further strengthen its competitive position. The Company's operations in the United Kingdom and Canada were not included in and will not...

2009-10-28 20:47:00

VAN BUREN TOWNSHIP, Mich., Oct. 28, 2009 /PRNewswire-FirstCall/ -- Visteon Corporation (OTC: VSTN) has filed a motion with the U.S. Bankruptcy Court in Delaware seeking approval of up to $150 million in debtor-in-possession (DIP) financing from a consortium of its term loan lenders. The DIP facility will provide Visteon with additional liquidity to fund ongoing operations as it progresses with its Chapter 11 reorganization process in the U.S. The court is expected to consider the motion...

2009-10-07 14:42:00

WEXFORD, Pa., Oct. 7 /PRNewswire/ -- PTC Alliance (www.ptcalliance.com), a leading manufacturer and marketer of welded and cold drawn mechanical steel tubing and tubular shapes, fabricated parts, precision components and chrome-plated rod, announced today that the company and its U.S. subsidiaries received court authority to continue business operations without interruption during their Chapter 11 proceedings. Judge Christopher S. Sontchi of the U.S. Bankruptcy Court in Wilmington,...

2009-10-01 06:00:00

RED BANK, N.J., Oct. 1 /PRNewswire-FirstCall/ -- Hovnanian Enterprises, Inc. (NYSE: HOV) (the "Company") announced that its wholly owned subsidiary, K. Hovnanian Enterprises, Inc. ("K. Hovnanian"), has amended its Offer to Purchase and Consent Solicitation Statement, dated September 21, 2009 (as it may be further amended from time to time, the "Statement"), in order to seek consents from the holders of its 11-1/2% Senior Secured Notes due 2013 (the "2013 Secured Notes") to an additional...

2009-08-24 10:49:42

The publisher of Reader's Digest Magazine said Monday it has followed through on plans to file for Chapter 11 bankruptcy protection. The Reader's Digest Association Inc. of Pleasantville, N.Y., said in a release its previously announced bankruptcy filing plans were carried out Monday. It said more than 80 percent of its senior secured lenders had signed on to the agreement in principle. Our business operations remain solid, with anticipated fiscal 2009 revenue only down by low single digits,...

2009-08-24 05:20:00

PLEASANTVILLE, N.Y., Aug. 24 /PRNewswire/ -- The Reader's Digest Association, Inc. (RDA), a global multi-brand media and marketing company, today announced it has filed voluntary pre-arranged petitions under Chapter 11 of the United State Bankruptcy Code, as part of the company's previously announced restructuring plan. Prior to the filing, more than 80 percent of the company's senior secured lenders had signed on to the agreement in principle. The filing applies only to the RDA's U.S....

2009-08-06 16:52:00

NOVI, Mich., Aug. 6 /PRNewswire/ -- Cooper-Standard Holdings Inc., the parent company of Cooper-Standard Automotive Inc., announced today that the Company and its subsidiaries in the U.S. and Canada received interim court approval of their $175 million debtor in possession financing. Judge Peter J. Walsh of the U.S. Bankruptcy Court in Wilmington, Del. and Justice Lederman of the Ontario Superior Court of Justice in Toronto, Ontario, Canada granted the Company interim authority to...

2009-08-04 14:50:00

SAN DIEGO, Aug. 4 /PRNewswire-FirstCall/ -- Applied Solar, Inc. (debtor-in-possession) (OTC Bulletin Board: APSO) ("we" or the "Company") announced today that it has obtained a secured, superpriority debtor-in-possession ("DIP") financing facility from The Quercus Trust. The DIP financing provides the Company with working capital that the Company estimates will be sufficient to take it through its bankruptcy proceeding currently pending in Delaware bankruptcy court. The DIP financing has...

2009-07-08 14:56:39

A lead automotive industry adviser to the White House said the government was keeping a close eye on suppliers to the shaky U.S. auto industry. There have been a number of recent bankruptcy filings by important part suppliers, adviser Steve Rattner said. We are watching every one of them. From where we're sitting, the market is working and those parts suppliers that have had to file for Chapter 11 in recent days have been able to get debtor-in-possession financing, and have been able to...

2009-07-01 15:40:00

SOUTHFIELD, Mich., July 1 /PRNewswire-FirstCall/ -- Debt Restructuring Agreement Supported by Steering Committees of Secured Lenders and Bondholders Lear Anticipates Implementing Restructuring Through an Expedited Chapter 11 Plan Process Involving the Company and Certain of its U.S. and Canadian Subsidiaries Company Obtains $500 Million in New Money Debtor-In-Possession Financing That Will Convert to Exit...


Word of the Day
ambsace
  • Bad luck; misfortune.
  • The smallest amount possible or the most worthless thing.
The word 'ambsace' comes from a Latin word meaning 'both'.