Interstate's $105M Financing Deal With GE Approved

Law360, New York (January 30, 2009, 12:00 AM EST) -- Interstate Bakeries Corp. moved one step closer to exiting more than four years of Chapter 11 bankruptcy proceedings Thursday when a federal judge approved recent changes to its reorganization plan related to the terms of a $105 million credit facility to be provided by General Electric Capital Corp.

After a hearing held Thursday in the U.S. Bankruptcy Court for the Western District of Missouri, Judge Jerry W. Venters signed an order approving Interstate's amended agreement in principle with GE Capital, a unit of General Electric Co.,...
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