Phoenix Gets Early OK For $5M DIP Ahead Of $50M Sale Plan
By Matt Chiappardi ( August 5, 2014, 3:50 PM EDT) -- A Delaware bankruptcy judge gave card transaction processor Phoenix Payment Systems Inc. the interim OK Tuesday for a $5 million debtor-in-possession loan from prepetition lender Bancorp Bank that will help finance operations as it prepares for a proposed $50 million stalking horse sale to North American Bancard LLC....
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