Black Angus Gets OK For $71.5M In DIP Financing

Law360, New York (January 16, 2009, 12:00 AM EST) -- The judge overseeing the bankruptcy of the parent company of Black Angus Steakhouse approved a slew of first-day motions on Friday, including preliminary approval of $71.5 million in debtor-in-possession financing.

Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District of Delaware found that Pecus ARG Holding Inc. was in need of the $71.5 million in post-petition financing, which will be provided by private equity firm Pecus ARG Parallel LLC and Pecus ARG Main LLC. Both of the DIP lenders are arms of the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.