Smurfit-Stone Gets Green Light For $750M DIP Loan

Law360, New York (February 23, 2009, 12:00 AM EST) -- Newly bankrupt Smurfit-Stone Container Corp. has won final court approval to access all of its $750 million line of credit, the company announced Monday.

The U.S. Bankruptcy Court for the District of Delaware, which had initially granted Smurfit-Stone access to $550 million of the debtor-in-possession loan, has given the packaging maker its blessing to tap the full amount, according to the company.

Smurfit-Stone, which filed for Chapter 11 on Jan. 26, said the court also granted final approval to other interim orders entered the same day...
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