GST AutoLeather Nears Deal On DIP Funding And Sale Plans

Law360, Wilmington (January 26, 2018, 10:27 PM EST) -- Bankrupt vehicle upholstery maker GST AutoLeather Inc. told a Delaware judge Friday that issues over its post-petition funding and plans to sell off its assets had been largely resolved after an aborted attempt at gaining approval for the sale last week.

During a telephone status update, GST attorney Benjamin Rhode of Kirkland & Ellis LLP told the court the debtor had reached the framework for an agreement with debtor-in-possession lenders Black Diamond Capital Management LLC to inject $3 million in additional financing for the debtor after...
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