Cable Co. Broadstripe To Tap $15M DIP Loan

Law360, New York (January 7, 2009, 12:00 AM EST) -- Less than one week after Broadstripe LLC filed for Chapter 11 protection, a bankruptcy judge has approved the cable company's request to incur up to $15 million in debtor-in-possession financing to help fund daily operations as the company reorganizes.

In an interim order signed Tuesday in the U.S. Bankruptcy Court for the District of Delaware, Judge Christopher S. Sontchi gave the go-ahead for Broadstripe to tap up to $15 million in DIP financing from lenders Highland Credit Strategies Fund, Highland Floating Rate Advantage Fund and Highland...
To view the full article, register now.