DBSD Gets Access To $25M Post-Petition Financing

By Evan Weinberger

Law360, New York (December 17, 2009, 1:03 PM ET) -- A bankruptcy court judge has approved $25 million in post-petition financing on a first-lien, secured super-priority basis for bankrupt satellite communications company DBSD North America Inc.

Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York approved the financing in a ruling Wednesday and said the post-petition financing needs to be used to repay a $15 million debtor-in-possession financing package provided by Dish Network Corp., plus interest.

According to the ruling, DBSD owes around $307,500 in interest payments on the...
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