Allen Family Foods Wins Access To $3M In DIP Cash

Law360, Wilmington (June 10, 2011, 6:03 PM EDT) -- A Delaware bankruptcy judge on Friday cleared poultry producer Allen Family Foods Inc. to borrow $3 million to sustain operations as it prepares to sell the bulk of its assets to a competitor in Chapter 11.

U.S. Bankruptcy Judge Brendan L. Shannon signed off on an interim order for the debtor-in-possession financing facility — provided by secured lender MidAtlantic Farm Credit ACA — along with an order allowing the company to use its secured lenders’ cash collateral and other customary first-day motions.

Judge Shannon was filling...
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