Monitor Secures $15M DIP, Seeks Quick Sale To Deloitte

Law360, Wilmington (November 9, 2012, 8:12 PM EST) -- A Delaware bankruptcy judge Friday signed a sheaf of first-day motions from Monitor Co. Group LP, including a interim order approving a $15 million debtor-in-possession financing package, aimed at keeping the consulting firm running as it heads toward a planned Chapter 11 sale.

Facing a cash crisis, Massachusetts-based Monitor Group entered court protection Wednesday with a $116 million stalking horse agreement in hand for Deloitte Consulting LLP to purchase the company in a Section 363 auction.

The proposed union with Deliotte is “a highly advantageous business...
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