Advantage Seeks Green Light For $100M Bankruptcy Loan
By Benjamin Horney
Law360, New York (April 4, 2014, 7:44 PM EDT) -- Advantage Rent a Car on Thursday asked a Mississippi bankruptcy court to allow it to take out $100 million in two separate loans — including one from a private equity firm planning to take over the company — in order to finance vehicles over the next three months while the company continues its bankruptcy proceedings.
The request from Advantage, which is legally known as Simply Wheelz LLC, comes while the company is in the midst of trying to emerge from Chapter 11 bankruptcy. The company filed...