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Nellson Gets Approval To Spend Cash Collateral

Law360 (November 28, 2007, 12:00 AM EST) -- Bankrupt diet bar maker Nellson Nutraceutical Inc. has received the go-ahead to spend some of its cash collateral as it looks to wind down its liquidation proceedings.

Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware on Tuesday approved a stipulated amendment to the final cash collateral order. Nellson will now be allowed to pay attorneys' and other professionals' fees while it tries to resolve remaining disputes over tens of millions of dollars in unsecured debt and at least $5 million...
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