KidsPeace Gets OK To Continue Operations In Ch. 11

Law360, New York (May 24, 2013, 6:24 PM EDT) -- A Pennsylvania bankruptcy judge on Thursday allowed bankrupt nonprofit KidsPeace Corp. to continue operating its psychiatric facility for children, approving its use of up to $15 million in financing as it wrangles with more than $100 million in pension plan obligations and rollbacks to Medicaid.

U.S. Bankruptcy Judge Richard E. Fehling signed off on first-day motions allowing KidsPeace to continue operating, pay administrative expenses and receive a debtor-in-possession loan not to exceed $15 million, according to court documents.

The DIP facility will also be used to...
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