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Global Home Wins More Time To Use Cash Collateral

Law360 (November 6, 2006, 12:00 AM EST) -- A judge has given bankrupt Global Home Products LLC more time to use its cash collateral to secure a lender’s claim, allowing it to avoid the expenses of negotiating a new credit agreement with different lenders.

Judge Kevin Gross in the U.S. Bankruptcy Court for the District of Delaware allowed the extension in an order on Oct. 30 after Global Home said it didn’t have sources of working capital to continue to operate its business.

“The debtors’ ability to maintain business relationships with their vendors, suppliers...
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