Judge Approves $35M DIP Loan For Pierre Foods

Law360, New York (August 14, 2008, 12:00 AM EDT) -- A bankruptcy judge has approved a request by ready-made meals giant Pierre Foods Inc., which filed for Chapter 11 bankruptcy protection in July, to access $35 million in debtor-in-possession funding to help keep it afloat.

In a final order signed Wednesday in the U.S. District Court for the District of Delaware, Judge Kevin Gross authorized Pierre Foods to tap into the $35 million DIP loan from Oaktree Capital Management LP that is needed for the meal and prepackaged baked goods manufacturer to continue normal operations during...
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