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Sea Containers To Tap $150M In Exit Financing

Law360 (November 7, 2008, 12:00 AM EST) -- A federal bankruptcy judge has approved a request by Sea Containers Ltd. and two subsidiaries to tap into as much as $150 million in exit financing from Fortis Bank and DVB Bank SE, a loan the debtors claim was negotiated to achieve the best terms reasonably available to fund their reorganization in the current credit market.

In an order signed Thursday in the U.S. Bankruptcy Court for the District of Delaware, Judge Kevin J. Carey approved the request by SCL, Sea Containers Caribbean Inc. and Sea...
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