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Latest Debtor-in-possession financing Stories

2009-06-25 14:11:00

ATLANTA, June 25 /PRNewswire-FirstCall/ -- Caraustar Industries, Inc. (OTC: CSARQ) announced that the Bankruptcy Court for the Northern District of Georgia (the "Court') granted final authorization for the company to borrow all amounts available under its $75 million debtor-in-possession credit facility (the "DIP Facility") from General Electric Capital Corporation, pursuant to the terms and conditions of the DIP Facility Agreement, and to use the amounts borrowed under the DIP Facility to...

2009-06-19 17:00:00

EXTON, Pa., June 19 /PRNewswire/ -- Isolagen(TM), Inc. announced on June 16, 2009, that the Company and Isolagen Technologies, Inc., the Company's wholly owned subsidiary, each filed a voluntary petition for reorganization under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware in Wilmington. The Company and Isolagen Technologies intend to continue to manage and operate their business as debtors in possession pursuant to the...

2009-06-15 13:00:00

NORTHVILLE, Mich., June 15 /PRNewswire-FirstCall/ -- Hayes Lemmerz International, Inc. ("Hayes" or the "Company") announced today that the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") granted a number of the Company's motions in hearings held on June 10, 2009 and today. As previously announced, on May 14, 2009, the Bankruptcy Court granted interim approval of the Company's first day motions seeking authority to have immediate access to $30 million in...

2009-05-27 15:02:00

Business Operates Smoothly During First 27 Days of Restructuring AMHERST, New York, May 27 /PRNewswire/ -- Mark IV, a leading diversified manufacturer of highly-engineered systems and components for the worldwide automotive OEM, automotive aftermarket, heavy duty, and transportation markets, announced today that it has received final approval from the Bankruptcy Court of its $90 million debtor-in-possession (DIP) financing agreement to continue operations, pay employees wages and benefits...

2009-05-14 17:07:00

NORTHVILLE, Mich.May 14 /PRNewswire-FirstCall/ -- Hayes Lemmerz International, Inc. ("Hayes" or the "Company") announced today that it has received Court approval of up to $100 million of debtor-in-possession ("DIP") financing, permitting it immediate access to up to $30 million to continue operations in the ordinary course of business. The DIP financing is being provided by lenders holding a majority of the Company's prepetition secured debt. Nearly all of the lenders holding the Company's...

2009-05-06 14:14:00

Isolagen Common Stock to be halted from trading on the NYSE Amex EXTON, Pa., May 6 /PRNewswire-FirstCall/ -- Isolagen(TM), Inc. (NYSE Amex: ILE) today announced that the Company has entered into secured promissory notes and security agreements (the "Notes") with eight lenders pursuant to which the Company borrowed an aggregate of $500,417.00 in principal amount. The Notes bear interest at a rate of 20% per annum with principal and interest on the Notes due on the earlier of June 20, 2009 or...

2009-05-01 19:26:00

Court Grants Interim Approval of Debtor-in-Possession Financing; Continuation of Employee Wages and Benefits without interruption AMHERST, N.Y., May 1 /PRNewswire/ -- Mark IV, a leading diversified manufacturer of highly-engineered systems and components for the worldwide automotive OEM, automotive aftermarket, heavy duty, and transportation markets, announced today that it has received interim Court approval of its $90 million debtor-in-possession (DIP) financing, permitting it...

2009-04-30 16:48:00

Receives Commitments for $90 Million in DIP Financing IVHS and International Operations Excluded from Filing AMHERST, N.Y., April 30 /PRNewswire/ -- Mark IV, a leading diversified manufacturer of highly-engineered systems and components for the worldwide automotive OEM, automotive aftermarket, heavy duty, and transportation markets, today announced that it has filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The Company said it was taking this...

2009-04-24 02:21:00

ROTTERDAM, Netherlands, April 24 /PRNewswire/ -- LyondellBasell Industries today announced that LyondellBasell Industries AF S.C.A. has been voluntarily added to Lyondell Chemical Company's reorganization filing under Chapter 11 of the U.S. Bankruptcy Code to protect the European holding company against claims by certain financial and U.S. trade creditors. LyondellBasell Industries AF S.C.A. is a holding company incorporated in Luxembourg. It does not manufacture or sell products, and has...

2009-04-22 16:16:00

AURORA, ON, April 22 /PRNewswire-FirstCall/ - Magna Entertainment Corp. ("MEC" or the "Company") announced that on April 20, 2009, the Company and MI Developments Inc. ("MID") agreed to terminate MID's stalking horse bid to purchase certain of MEC's assets that was entered into prior to the filing of MEC's voluntary petition for reorganization under Chapter 11 of the United States Bankruptcy Code. MEC also announced that the terms of the debtor-in-possession ("DIP") financing facility being...


Word of the Day
negawatt
  • A unit of saved energy.
Coined by Amory Lovins, chairman of the Rocky Mountain Institute as a contraction of negative watt on the model of similar compounds like megawatt.