All American Semiconductor Wins First-Day Motions

Law360, New York (May 3, 2007, 12:00 AM EDT) -- A bankruptcy court approved All American Semiconductor Inc.’s first-day motions on Thursday, allowing it to continue operations during its Chapter 11 process and possibly auction itself off.

The Miami-based semiconductor distribution company will now be able to receive debtor-in-possession financing of up to $13 million from bank lenders and pay its pre-petition obligations to employees and customers.

The loan will give it sufficient liquidity to continue operations during the Chapter 11 case, All American said. A final hearing on DIP financing is scheduled for May 17....
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