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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.