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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.