Devonshire Can Use Cash Collateral To Fund Ch. 11

Law360, Wilmington (September 23, 2013, 9:29 PM EDT) -- A Delaware bankruptcy judge gave an interim nod Monday to a collection of first-day requests from the company that owns a retirement community and assisted living facility within Florida's PGA National Resort and Spa, including the ability to fund the Chapter 11 reorganization with cash collateral.

Devonshire PGA Holdings LLC said it was hoping to have only a quick stay in bankruptcy as it looks to restructure its more than $160 million in debt, and U.S. Bankruptcy Judge Christopher S. Sontchi said that, so far, the...
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