Woodbridge Reaches DIP Deal With Noteholders

Law360, Wilmington (March 8, 2018, 10:10 PM EST) -- Bankrupt luxury real estate developer The Woodbridge Group told a Delaware judge Thursday that it had reached agreements with its noteholder to provide additional adequate assurance for its potentially secured claims in a deal that allowed the debtor’s $100 million post-petition financing to be approved on a final basis.

During a hearing in Wilmington, debtor attorney Matthew K. Kelsey of Gibson Dunn & Crutcher LLP told the court that two material changes had been made to the proposed final order approving Woodbridge’s debtor-in-possession financing to clear...
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