Limitless Mobile Reaches Deal For Larger, $5M DIP Loan
Law360, Wilmington (January 4, 2017, 6:31 PM EST) -- Bankrupt rural wireless carrier Limitless Mobile LLC resolved objections from unsecured creditors Wednesday on its requests for post-petition financing and the use of lenders' cash collateral, clearing the way for a Delaware bankruptcy judge to grant final approval for the measures.
According to court filings, the company reached agreement with the official committee of unsecured creditors shortly before a scheduled hearing on the matters Monday morning. Other relief requested by the company had previously been authorized by the court without objection.
Limitless attorney Jesse Silverman of Dilworth Paxson LLP told Law360 that the issues with the unsecured creditors concerned the amount...
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