April 04, 2014
Advantage Rent a Car on Thursday asked a Mississippi bankruptcy court to allow it to take out $100 million in two separate loans — including one from a private equity firm planning to take over the company — in order to finance vehicles over the next three months while the company continues its bankruptcy proceedings.
January 03, 2014
A Mississippi bankruptcy court signed off Thursday on The Catalyst Capital Group Inc.'s stalking horse bid for Advantage Rent-A-Car, calling to close a tumultuous Chapter 11 process launched by the rental car service after a lease agreement with Hertz Global Holdings Inc. went sour.
December 11, 2013
Bankrupt Advantage Rent a Car has agreed to settle a dispute with former parent company Hertz Global Holdings Inc. over a terminated lease deal for rental vehicles, clearing the way for Advantage to sell its assets to Canadian private equity firm Catalyst Capital Group Inc., according to court documents released Tuesday.
December 04, 2013
A Mississippi bankruptcy judge on Tuesday granted final approval for Advantage Rent A Car to secure a $36 million loan from Catalyst Capital Group Inc., which plans to buy the bankrupt rent-a-car company at a Dec. 9 auction.