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Last updated on April 17, 2014 at 21:23 EDT

Latest Debtor-in-possession financing Stories

2008-11-01 00:01:17

SIOUX FALLS, S.D., Oct. 31 /PRNewswire-FirstCall/ -- VeraSun Energy Corporation , one of the nation's largest ethanol producers announced today the Company and 24 of its subsidiaries have filed voluntary petitions for relief under chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware to enhance liquidity while they reorganize. The filing was precipitated by a series of events that led to a contraction in VeraSun's liquidity, impairing its...

2008-09-24 09:00:34

WCI Communities, Inc. (OTC:WCIMQ), a leading developer, builder and seller of luxury homes and tower units, said that late yesterday the Delaware Bankruptcy Court presiding over WCI's Chapter 11 case authorized the Company to enter into a new $150 million debtor-in-possession (DIP) financing agreement. Simultaneously, the Court also granted the Company final authority to continue using its on-hand cash collateral during the Chapter 11 case. As of September 20, 2008, the Company had...

2008-09-12 18:00:26

Interstate Bakeries Corporation (IBC) (OTC:IBCIQ) announced today that it has received plan funding commitments from an affiliate of Ripplewood Holdings L.L.C. and from Silver Point Finance, LLC, Monarch Alternative Capital L.P. and McDonnell Investment Management LLC, lenders holding approximately 53% of IBC's pre-petition secured debt, that form a basis for IBC to emerge from Chapter 11 as a stand-alone company. National representatives of IBC's two major labor unions, which, together,...

2008-08-04 15:00:37

DENVER, Aug. 4 /PRNewswire/ -- Frontier Airlines Holdings, Inc. today announced it is moving forward with an alternate transaction for post-petition debtor-in-possession (DIP) financing. Republic Airways Holdings, Inc., Credit Suisse Securities (through its affiliates), and AQR Capital (the "Lenders"), each a member of the Unsecured Creditors Committee in Frontier's Chapter 11 Bankruptcy cases, are offering Frontier up to $75 million in DIP financing, with an immediate firm commitment and...

2008-07-23 21:00:38

SemGroup, L.P. announced today that it has received Bankruptcy Court approval of its essential initial motions requesting relief, including authorization to use cash collateral. The use of cash collateral will enable SemGroup to utilize existing cash and cash generated through normal business operations to meet its obligations post-Chapter 11 filing, including trade payables and wages and benefits. SemGroup's bank lenders have also approved the use of cash collateral. Meanwhile, SemGroup...

2008-07-23 12:01:24

ATLANTA, July 23, 2008 (PRIME NEWSWIRE) -- MedAvant Healthcare Solutions (MedAvant) (Nasdaq:PILL), a leader in healthcare technology and transaction services, today announced that it filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code, together with a debtor-in-possession financing commitment of $8.1 million by its senior lender Laurus Master Fund, Ltd., of which $2.9 million represents new credit availability to support the Company's business operations...

2008-07-22 15:01:00

SemGroup L.P. announced that the Company and certain of its North American subsidiaries have filed voluntary petitions for reorganization today under Chapter 11 of the U.S. Bankruptcy Code as well as an application for creditor protection under the Companies' Creditors Arrangement Act in Canada. "Our core business in energy distribution and storage remains strong, and we are taking aggressive steps to address our financial challenge," said Terry Ronan, SemGroup's acting President and Chief...

2008-04-07 09:00:37

DALLAS, April 7, 2008 /PRNewswire-FirstCall/ -- Manchester Inc. (BULLETIN BOARD: MNCS) announced an agreement to fund company operations during bankruptcy and acceptance of a proposal (the "Proposal") by its senior lender, Palm Beach Multi-Strategy Fund, L.P. ("Palm Beach") which if approved by the Bankruptcy Court, would result in Manchester being reorganized and exiting bankruptcy within a few months. Rick Gaines, Manchester's CEO, stated that the agreement announced today was reached...

2007-11-06 00:00:15

Interstate Bakeries Corporation (IBC) (OTC:IBCIQ) today announced that it has filed its Plan of Reorganization (the "Reorganization Plan") and related Disclosure Statement with the U.S. Bankruptcy Court for the Western District of Missouri. A cornerstone of the Reorganization Plan is the previously announced commitment by Silver Point Finance, LLC, to provide the Company with up to $400 million in exit financing upon IBC's emergence from Chapter 11. Additionally, as also previously...

2007-01-30 21:00:20

KANSAS CITY, Mo., Jan. 30 /PRNewswire-FirstCall/ -- Interstate Bakeries Corporation (IBC) today named Craig D. Jung, 53, as its new chief executive officer and a member of the Company's newly reconstituted Board of Directors. Mr. Jung's employment and appointment to the Board are subject to Bankruptcy Court approval, and the Company today filed a motion with the Court requesting authorization to enter into an employment agreement with Mr. Jung. The motion is scheduled to be heard February...