Generation Brands' $20M DIP Financing Gets OK

Law360, New York (December 23, 2009, 4:58 PM EST) -- A bankruptcy court has given final approval to Generation Brands' $20 million debtor-in-possession financing agreement to fund the company's working capital needs.

Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District of Delaware signed off on the credit facility Tuesday, giving the lighting fixture and ceiling fan maker the means to continue purchasing goods and services, pay employee salaries and benefits, and fund ongoing operations.

Generation Brands said it had received commitments from a group of lenders led by BNP Paribas for the...
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