Atari Gets New DIP Lender As Judge Blasts Prior Deal

Law360, New York (January 24, 2013, 7:49 PM EST) -- The U.S.-based arm of French video game company Atari SA on Thursday found a new debtor-in-possession lender to facilitate a quick exit from Chapter 11, the same day that a New York federal bankruptcy judge blasted the original DIP loan from Tenor Capital Management Co. LP funds as “extraordinary and offensive.”

At the case's first-day hearing, Atari’s counsel Peter S. Partee of Hunton & Williams LLP told U.S. Bankruptcy Judge James M. Peck that he had spent much of Wednesday night and early Thursday morning hammering...
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