Court OK's Dura’s $300M DIP Loan

Law360, New York (November 21, 2006, 12:00 AM EST) -- A federal court approved a $300 million debtor-in-possession loan on Monday that will allow Dura Automotive Systems Inc. to continue operating during its Chapter 11 proceedings.

The news came just a few weeks after the U.S. Bankruptcy Court in Wilmington, Del., granted the auto supplier’s request to access $50 million of the money on an interim basis. Financing will come from a lending consortium headed up by Barclays Capital, General Electric Capital Corp. and Goldman Sachs Capital Partners.

“We are pleased that we have accomplished our...
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