Bankrupt Hardware Chain Gets Nod For $177M DIP

Law360, Wilmington (July 15, 2013, 11:04 PM ET) -- Home-and-garden retailer Orchard Supply Hardware Stores Corp. won final approval for its $177 million debtor-in-possession financing package Monday, when a Delaware bankruptcy judge gave it the green light over the opposition of creditors who claimed a portion of the loan package was unnecessary and wasteful.

U.S. Bankruptcy Judge Christopher S. Sontchi agreed to sign off on the DIP package, overruling the objection of the official committee of unsecured creditors, which had urged the court to reject a $12 million loan furnished by a group of prepetition...
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