Retailer Muji USA Gets OK To Tap Into $22M Ch. 11 Financing

Law360 (July 14, 2020, 6:54 PM EDT) -- A Delaware judge on Tuesday gave the American unit of Japanese home goods retailer Muji the go-ahead to tap into a $22 million post-petition loan in its Chapter 11 as the company moves forward with plans to restructure nearly $73 million in debt.

During a virtual hearing, U.S. Bankruptcy Judge Mary F. Walrath gave her nod for Muji USA Ltd. to access $2.6 million of debtor-in-possession funds on an interim basis with the approval of the full DIP to be considered at a future hearing.

The judge signed off on the interim DIP funding after U.S. Trustee representative David L. Buchbinder raised...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!