In From The Cold, Congoleum Gets OK For $30M DIP

Law360, New York (March 18, 2009, 12:00 AM EDT) -- Slightly more than a week after handing Congoleum Corp. a reprieve from her earlier dismissal of the company's Chapter 11 proceedings, a bankruptcy court judge has approved the $30 million in debtor-in-possession financing first agreed to five years ago, allowing the flooring maker to continue its emergence from bankruptcy even as it resolves several asbestos-related civil cases.

Judge Kathryn Ferguson of U.S. Bankruptcy Court for the District of New Jersey on Monday signed off on the package, which was originally agreed to in the months following...
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