Broadband Co. Can Borrow $4M To Fund Ch. 11 Sale: Judge

Law360, Wilmington (October 11, 2011, 7:05 PM EDT) -- Open Range Communications Inc. won Delaware bankruptcy court approval Tuesday for a $4 million loan from its private equity owner to keep the rural broadband provider’s customers connected to the Internet as it searches for a buyer to take on its assets.

U.S. Bankruptcy Judge Kevin J. Carey approved the interim portion of the debtor-in-possession loan, which could be worth $6 million on final approval. One Equity Partners III LP — a private equity arm of JPMorgan Chase & Co. that had agreed to infuse $100...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.