Black Angus Gets OK For $71.5M In DIP Financing

Law360, New York (January 16, 2009, 12:00 AM EST) -- The judge overseeing the bankruptcy of the parent company of Black Angus Steakhouse approved a slew of first-day motions on Friday, including preliminary approval of $71.5 million in debtor-in-possession financing.

Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District of Delaware found that Pecus ARG Holding Inc. was in need of the $71.5 million in post-petition financing, which will be provided by private equity firm Pecus ARG Parallel LLC and Pecus ARG Main LLC. Both of the DIP lenders are arms of the...
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