Bank Holding Co. DIP Request On Hold Amid Creditor Worries

Law360, Wilmington (October 21, 2013, 5:40 PM ET) -- North Texas Bancshares Inc.delayed its request for $750,000 in bankruptcy financing extended by stalking horse bidder Park Cities Financial Group Inc. on Monday after a surprise wave of concern from unsecured creditors emerged at the bank holding company's first-day hearing in Delaware.

NTBI attorney Tobey M. Daluz of Ballard Spahr LLP told U.S. Bankruptcy Judge Kevin Gross that the holding company's representatives would work to hammer out differences with the creditors — who were concerned the credit facility is too closely tied to a proposed sale...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers