Solar Firm Sungevity Gets Interim OK To Tap $20M DIP Loan

Law360, Wilmington (March 15, 2017, 9:39 PM EDT) -- A Delaware bankruptcy judge gave Sungevity Inc. the interim OK on Wednesday to tap part of its $20 million post-petition financing package, rejecting objections from the U.S. trustee's office that terms in the loan gave lenders Northern Pacific Group and Hercules Capital too much control over the case.

During a first-day hearing in Wilmington, U.S. Bankruptcy Judge Kevin Gross allowed the rooftop solar company to access about half of the debtor-in-possession financing package and gave Sungevity the green light to start on the path of what...
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