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Creditors Oppose Propex's $65M DIP Cash Request

By Christie Smythe (January 22, 2009, 12:00 AM EST) -- Several creditors — including major secured lenders, a committee of unsecured creditors and the federal Pension Benefit Guaranty Corp. — have objected to a $65 million debtor-in-possession financing request by bankrupt materials company Propex Inc., contending that the request is being considered too hastily and that it usurps proper bankruptcy procedure....

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