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Intermet Wins Interim OK To Use Cash Collateral

Law360 (August 20, 2008, 12:00 AM EDT) -- A bankruptcy judge has given auto supplies maker Intermet Corp., which filed for Chapter 11 protection for the second time on Aug. 12, the green light to access cash collateral from a group of prepetition lenders despite the lenders' objections.

In an interim order signed Monday in the U.S. Bankruptcy Court for the District of Delaware, Judge Kevin Gross authorized the debtors to use cash collateral in order to sustain the company as it reorganizes or sells its assets after filing for bankruptcy protection for the...
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