Bankrupt WTC Contractor Gets Nod For Stopgap Financing

By Jonathan Randles (January 19, 2016, 6:22 PM EST) -- A firm assisting in the construction of the 3 World Trade Center office tower in lower Manhattan on Wednesday obtained stopgap financing from a New York bankruptcy judge in order to continue its operations after running into liquidity problems.

New York Constructors Inc. and its subsidiary, which is installing steel at the 3 World Trade Center tower, got interim approval from the court to tap bankruptcy financing worth up to $3 million provided by lender Banker Steel. The company filed for Chapter 11 protection last week and is seeking to sell its assets to Banker Steel for at least $7.2 million,...

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