Propex Wins Access To Entire $60M Credit Facility

Law360, New York (February 14, 2008, 12:00 AM EST) -- A federal judge has granted bankrupt fabric company Propex Inc.'s request to access the remaining $40 million of its $60 million credit facility.

The order, signed Wednesday by Judge John C. Cook of the U.S. Bankruptcy Court for the Eastern District of Tennessee, will provide Propex with the liquidity it needs to continue operating its business, according to the company.

“We are once again pleased to have received court approval for access to the additional $40 million of our $60 million credit facility,” said Propex President...
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