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Rockport Approved For Complex Ch. 11 Funding Packages

Law360, Wilmington (May 15, 2018, 9:27 PM EDT) -- Bankrupt shoe distributor The Rockport Co. LLC received court approval Tuesday in Delaware to tap into a complex, dual-facility debtor-in-possession package that will see some of its prepetition secured debt rolled up over the next few weeks.

During a first-day hearing in Wilmington, debtor attorney Mark D. Collins of Richards Layton & Finger PA said prepetition revolving credit lenders led by Citizens Business Capital will provide a $60 million post-petition revolver that will roll up on a creeping basis in the interim period, while existing noteholders...
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