Law360 (June 23, 2021, 5:10 PM EDT) — The owner of a chain of assisted living facilities received court approval Wednesday from a Delaware bankruptcy judge to tap into a portion of a Chapter 11 loan that will be used to cover the initial costs of its bankruptcy case.
During a virtual hearing, CP Holdings LLC attorney Felice R. Yudkin of Cole Schotz PC said the debtor-in-possession financing being provided by prepetition lender Tor Asia Credit Master Fund LP was necessary to pay the professional fees the debtor anticipated incurring in the initial weeks of its Chapter 11 case, since its normal cash position had been reduced prior to…
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
- Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
- Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
- Create custom alerts for specific article and case topics and so much more!
TRY LAW360 FREE FOR SEVEN DAYS