Ritz Camera, Creditors Agree On Amended $20M DIP

Law360, Wilmington (July 17, 2012, 11:08 PM EDT) -- A Delaware bankruptcy judge gave final approval Tuesday to Ritz Camera & Image LLC's $20 million debtor-in-possession financing after the bankrupt retailer and its creditors amended the agreement to better preserve the administrative solvency of the estate while it seeks a buyer.

The official committee of unsecured creditors, formed after the package received interim approval at a first-day hearing June 25, had objected to the terms and even to the necessity of the $20 million DIP, which was supposedly designed to support the bankrupt camera chain...
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