Catalog Printer Arandell Can Tap Loan As It Seeks Ch. 11 Sale

By Rose Krebs (August 14, 2020, 8:46 PM EDT) -- A Delaware judge on Friday cleared the way for catalog printer Arandell Corp. to tap into its complex post-petition financing package as it seeks a Chapter 11 buyer for its assets.

During a hearing held virtually, U.S. Bankruptcy Judge John T. Dorsey signed off on Arandell's "first-day" motions, including continued payment of employees' wages and benefits, insurance and utility costs, as the newly filed Chapter 11 moves forward.

Arandell's attorney, Michael P. Richman of Steinhilber Swanson LLP, told the judge the company is in "advanced discussions" with a potential buyer and is "cautiously optimistic" it will be able work out a...

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