DBSD Gets Access To $25M Post-Petition Financing

Law360, New York (December 17, 2009, 1:03 PM EST) -- A bankruptcy court judge has approved $25 million in post-petition financing on a first-lien, secured super-priority basis for bankrupt satellite communications company DBSD North America Inc.

Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York approved the financing in a ruling Wednesday and said the post-petition financing needs to be used to repay a $15 million debtor-in-possession financing package provided by Dish Network Corp., plus interest.

According to the ruling, DBSD owes around $307,500 in interest payments on the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.