Easy Gardener Gets OK To Tap DIP Loan

Law360, New York (April 27, 2006, 12:00 AM EDT) -- Cash-strapped Easy Gardener Products Ltd. got an infusion of capital last week when a federal bankruptcy judge conditionally approved its plan to borrow on its debtor-in-possession loan, in a ruling that allayed its proposed buyer's concerns about the lawn and garden product maker’s liquidity.

Judge Kevin Gross’ interim approval—if it stands— will mean that Easy Gardener will be able to borrow $8 million dollars more than previously expected from LaSalle Credit LLC.

The line of credit had been capped at $25 million, but will now be...
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