Spectrum Brands Gets Green Light For $235M DIP

Law360, New York (February 6, 2009, 12:00 AM EST) -- The federal judge overseeing the Chapter 11 bankruptcy proceedings of Spectrum Brands Inc. has signed off on a slew of first-day motions, including preliminary approval of up to $235 million in debtor-in-possession financing that the global consumer products company says it needs to stay afloat during its restructuring.

At a hearing held Thursday in the U.S. Bankruptcy Court for the Western District of Texas, Judge Ronald B. King gave the Atlanta-based Spectrum Brands the green light to tap up to $235 million in DIP financing from...
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