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Court OKs London Fog Bid To Borrow On DIP Loan

Law360 (May 1, 2006, 12:00 AM EDT) -- A federal bankruptcy judge has given the green light to London Fog Group Inc. in its bid to borrow on its $40 million debtor-in-possession loan as the famed rainwear manufacturer reorganizes in Chapter 11 bankruptcy.

Late last week, Judge Gregg W. Zive of the U.S. Bankruptcy Court for the District of Nevada signed off on the loan from London Fog's pre-bankruptcy lender, Wachovia Bank.

The Seattle-based company, which plans to use the financing to run its business while it reorganizes, already owes Wachovia $29.1 million under...
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