DBSI Wins Court OK To Further Tap Cash Collateral

Law360, New York (December 9, 2008, 12:00 AM EST) -- A bankruptcy judge has granted real estate investment company DBSI Inc. approval to continue its limited use of cash collateral in the face of objections by lenders who argued that the relief sought would diminish the value of their loans.

Issuing a second supplemental interim order Monday, Judge Peter Walsh of the U.S. Bankruptcy Court for the District of Delaware said the funds were “necessary and essential” for DBSI to continue managing its 230 properties.

Court documents reveal that DBSI — which filed for Chapter 11...
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