Hines Nurseries Wins Final $11M Of DIP Facility

Law360, New York (December 14, 2010, 8:08 PM EST) -- Hines Nurseries LLC received bankruptcy court approval Tuesday for an additional $11 million of debtor-in-possession financing after resolving an objection by secured lender Bank of America NA, which claimed the DIP facility did not adequately protect its collateral.

At a hearing in the U.S. Bankruptcy Court for the District of Delaware, BofA said it was inappropriate for the DIP facility to receive a priming lien when it would be used to fund an abbreviated sale process for the benefit of the DIP agent, Black Diamond Capital...
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