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

Judge Drops Creditors' Call For More Propex DIP Docs

Law360 (August 20, 2008, 12:00 AM EDT) -- A bankruptcy judge signed off on an amendment to Propex Inc.'s post-bankruptcy financing at a hearing Wednesday, denying the company's unsecured creditors' demand to see more documentation of the company's debtor-in-possession agreement before the judge approved the amendment.

The creditors asked Judge John C. Cook of U.S. Bankruptcy Court for the Eastern District of Tennessee to grant further disclosure of documents relating to the foreign stock pledge Propex made to its DIP lender, the French bank PNB Paribas Securities Corp.

But at the hearing on Wednesday,...
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.