Bankrupt US Energy Gets OK To Use Cash Collateral

Law360, New York (April 6, 2009, 12:00 AM EDT) -- A federal judge has authorized U.S. Energy Systems Inc. to access cash collateral to pay costs incurred because of its Chapter 11 case, also allowing the company up to $6 million to operate its U.K. subsidiaries and drill new wells at one of its natural gas-fired power plants.

Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York on Monday granted the debtors' motion for the use of cash collateral, which consists of cash held by USEY subsidiary GBGH LLC....
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