Bankrupt NY Contractor Seeks OK For $135M DIP Loan

Law360, Los Angeles (November 22, 2017, 10:03 PM EST) -- A New York construction contractor that filed for bankruptcy earlier this month asked a judge on Wednesday to approve a $135 million debtor-in-possession financing the debtor says is critical to keep up work on open projects while it sorts out its finances in court.

Navillus Tile Inc., a general contractor and subcontractor, said it had exhausted its options to avoid or put off a $76 million judgment over benefit contributions it skimped on for skilled-trades workers’ unions, and that it was now facing pressure from the...
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