Court Approves J.L. French DIP Loan

Law360, New York (March 6, 2006, 12:00 AM EST) -- After smoothing out objections from its committee of unsecured creditors, J.L. French received the green light Friday for its $50 million debtor-in-possession loan.

Earlier, frustrated unsecured creditors of J.L. French Automotive Castings Inc. criticized the company’s terms for its DIP loan and called for a federal judge to withhold final approval of the loan.

Claiming J.L. French’s terms were “inequitable and unreasonable” in court documents Wednesday, the creditors said the current terms of the loan keep J.L. French from finding alternative financials and are overly generous...
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