Bankrupt Papermaker Appvion Gets Nod For $325M DIP Loan
Law360, Wilmington (October 30, 2017, 9:44 PM EDT) -- A Delaware bankruptcy judge agreed to give the final OK on Monday to specialty papermaker Appvion Inc.'s roughly $325 million post-petition financing facility after several tweaks to the loan resolved objections from the official committee of unsecured creditors.
During a hearing in Wilmington, U.S. Bankruptcy Judge Kevin J. Carey said he would approve the loan from Appvion's senior lenders that provides about $85 million in new money and rolls up the rest into first-lien debt, but offered little comment.
The loan had faced fire from the committee in an objection Friday that took issue mostly with the roughly $240 million portion...
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!