Judge Approves $35M DIP Loan For Pierre Foods

Law360, New York (August 14, 2008, 12:00 AM EDT) -- A bankruptcy judge has approved a request by ready-made meals giant Pierre Foods Inc., which filed for Chapter 11 bankruptcy protection in July, to access $35 million in debtor-in-possession funding to help keep it afloat.

In a final order signed Wednesday in the U.S. District Court for the District of Delaware, Judge Kevin Gross authorized Pierre Foods to tap into the $35 million DIP loan from Oaktree Capital Management LP that is needed for the meal and prepackaged baked goods manufacturer to continue normal operations during...
To view the full article, register now.