Hospital Laundry Co.'s Ch. 11 Loan, Bidding Procedures OK'd

Law360, New York (April 28, 2017, 4:09 PM EDT) -- Bankrupt medical laundry and linen management services company Angelica Corp. received final authorization Friday to tap a $65 million Chapter 11 loan and move forward with its agenda to sell the business to a KKR & Co. LP affiliate for $125 million or field a better offer at auction.

At a hearing in his Manhattan courtroom, U.S. Bankruptcy Judge James L. Garrity Jr. approved a spate of motions that permit Angelica to operate smoothly over the course of its Chapter 11 proceedings. Among those is a request to draw down the rest of a $65 million debtor-in-possession loan from Wells Fargo...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS