Hobbico Gets Interim Nod To Access Part Of $72M DIP Loan

Law360, Wilmington (January 11, 2018, 9:01 PM EST) -- A Delaware bankruptcy judge on Thursday allowed Hobbico Inc. interim access to its up to roughly $72 million debtor-in-possession financing package, which the remote control model distributor hopes will help fund a post-petition sale process that will keep the company intact as a going concern.

During a hearing in Wilmington, U.S. Bankruptcy Judge Kevin Gross noted the straightforwardness of the proposed DIP loan package, which only took up 31 pages for the proposed order in contrast to a trend for more complex and tangled post-petition loan...
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