Judge OKs $6M DIP Loan For Tarragon

Law360, New York (March 6, 2009, 12:00 AM EST) -- The bankruptcy judge overseeing the Chapter 11 case of Tarragon Corp. has signed off on the real estate developer's bid to tap up to $6.25 million in post-petition financing to keep its business afloat during its restructuring period.

Judge Donald Steckroth of the U.S. Bankruptcy Court for the District of New Jersey issued a final order approving the debtor-in-possession loan on Thursday, saying the relief requested was essential for the continued operation of Tarragon's business.

Tarragon and 19 affiliated debtors filed a Chapter 11 petition Jan....
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