Judge Allows Bankrupt Mobile Phone Co. To Use Cash

Law360, New York (June 20, 2007, 12:00 AM EDT) -- Amp’d Mobile Inc. will live to see another week thanks to a bankruptcy judge’s order approving the mobile phone company’s second request to tap $7.5 million in cash belonging to its lender, Kings Road Investments Ltd.

Judge Brendan Shannon of the U.S. Bankruptcy Court for the District of Delaware issued a second interim order Monday, giving Amp’d the ability to use cash collateral to fund its operating expenses. When Amp’d filed for Chapter 11 earlier this month, it claimed it did not have any assets that...
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