All American Gets Loan, Settles Creditors Spat

Law360, New York (May 23, 2007, 12:00 AM EDT) -- In an order that paves the way for All American Semiconductor Inc. to auction off its assets next week, a bankruptcy court has approved a $25 million injection of funds by its senior lenders.

The order came down Monday from the U.S. Bankruptcy Court for the Southern District of Florida, after All American resolved a dispute with its unsecured creditors over the sale procedure and fended off moves to appoint a trustee to the case.

The debtors counsel, Stephen Lerner of Squire, Sanders & Dempsey LLP,...
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