Scopac Requests Additional $25M Credit Facility

Law360, New York (June 5, 2008, 12:00 AM EDT) -- Faced with a looming cash crisis, the debtor-in-possession in Pacific Lumber Co.'s Chapter 11 case asked for and got an expedited hearing Thursday of its request for an additional $25 million credit facility, as well as permission to use cash collateral to pay off certain lenders.

Judge Richard S. Schmidt of the U.S. Bankruptcy Court for the Southern District of Texas granted Scotia Pacific Co. LLC's motion, filed earlier that day, for an expedited hearing on its motions and scheduled the hearing for late Thursday afternoon....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.