Medical Supplier Can Use Cash On Hand To Fund Ch. 11 Sale

Law360, Wilmington (August 20, 2013, 6:46 PM EDT) -- A Delaware bankruptcy judge on Tuesday gave Landauer-Metropolitan Inc. the green light to tap cash collateral, allowing the medical equipment supplier to fund an anticipated short stay in Chapter 11 on its way to a $22 million going-concern sale.

At a hearing in Wilmington, U.S. Bankruptcy Judge Christopher S. Sontchi signed off on the cash collateral motion and slate of other first-day pleadings designed to keep Landauer Metro operational as it pursues a Section 363 sale to $22 million stalking horse Quadrant Management Inc. or a...
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