We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Allied Holdings Extends Forbearance On DIP

Law360 (April 5, 2006, 12:00 AM EDT) -- After failing to meet certain loan covenants under its $230 million debtor-in-possession loan facility, car transporter Allied Holdings Inc. has won bankruptcy court approval to extend the terms of its forbearance agreement with DIP lenders until April 18.

The lenders, including GE Capital Corp., Marathon Structured Finance Fund LP and Morgan Stanley Senior Funding Inc., agreed to forbearance last month after Allied did not meet its target revenue, according to Richard Herzog, counsel to Allied’s unsecured creditors committee at Nelson Mullins Riley & Scarborough LLP in...
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.