Court Approves Meridian’s $75M DIP Loan

Law360, New York (September 22, 2006, 12:00 AM EDT) -- A bankruptcy judge has given the green light to Meridian Automotive System Inc.’s amendments to its bankruptcy financing, which will help steer the company out of Chapter 11.

Judge Mary F. Walrath approved the auto parts supplier’s $75 million debtor-in-possession loan on Wednesday in the U.S. Bankruptcy Court for the District of Delaware. She also pushed back the maturity date of the financing from Oct. 31 to Dec. 31.

The amendments to the financing package will also extend the loan to March 31, 2007, and the...
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