Judge OKs Amended ProtoStar DIP Financing Package

Law360, New York (April 15, 2010, 3:38 PM EDT) -- A bankruptcy court judge has signed off on ProtoStar Ltd.'s request for an additional $2.5 million in debtor-in-possession financing plus an extension of the financing until May 31 at the latest.

Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware said there was good cause to approve the fourth amended DIP package, which will go toward funding ProtoStar’s ongoing operations. ProtoStar's existing DIP financing package expired Feb. 15

Under the amendment, which the bankrupt satellite communications provider filed March 22, Wells...
To view the full article, register now.