Mark IV Can Obtain $80M In DIP Cash: Judge

Law360, New York (May 4, 2009, 12:00 AM EDT) -- Mark IV Industries Inc. and its Canadian and Italian affiliates have received approval to obtain $80 million in debtor-in-possession financing in the automotive systems and components manufacturer's Chapter 11 bankruptcy proceedings.

Judge Stuart Bernstein gave the go-ahead Friday in an interim order filed in the U.S. Bankruptcy Court for the Southern District of New York.

Under the terms of the agreement, Mark IV is authorized to obtain up to $25 million in loans, and it can guarantee up to $55 million in loans for Canadian Mark...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.