Car Hauler Allied Systems Secures $20M DIP Package

Law360, Wilmington (June 12, 2012, 8:07 PM EDT) -- A Delaware bankruptcy judge on Tuesday gave interim approval to a $20 million debtor-in-possession financing package for Allied Systems Holdings Inc., allowing the majority private-equity-owned car transport company access to $10 million in funds to address its operating expenses.

U.S. Bankruptcy Judge Christopher S. Sontchi signed off on the DIP package as well as a slate of other first-day motions filed by Atlanta-based Allied, which sought Chapter 11 protection on Sunday after being made the subject of an involuntary petition filed by a group of its...
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