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,...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related Sections

Law Firms

Companies

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!