Comcar Industries' $15M Ch. 11 Loan Cleared After Changes
Law360 (May 20, 2020, 9:40 PM EDT) -- Bankrupt trucking fleet owner Comcar Industries nailed down terms for a $15 million Chapter 11 debtor in possession loan in Delaware Wednesday, after the lender agreed to a string of court-directed changes on a number of issues, including default conditions.
Judge Laurie Selber Silverstein gave a go-ahead for the agreement after attorneys for the lender walked the court through rewrites, prunings and clarifications ranging from the effective date of liability releases for prepetition term and asset-based lenders to limitations on lender sweeps of debtor cash.
"I appreciate and recognize their effort to come to an order that I'm more comfortable entering...
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