Pallet Co. IGPS Wins $12M DIP Loan, Sets Stage For Sale

Law360, Wilmington (June 7, 2013, 6:15 PM EDT) -- Plastic pallet company iGPS Co. LLC won approval of a crucial $12 million loan Friday, allowing it to fund a quick sale to a private equity-led group that was threatened by several disputes a day earlier in Delaware bankruptcy court.

The green light came after a breathless day during which U.S. Bankruptcy Judge Kevin Gross told the parties to iron out the lingering disputes, which took up the bulk of the company's first-day hearing, before bringing the credit facility back before the court.

The revised motion...
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