Hertz Asks For $1.6B Ch. 11 Loan For New Car Buys

Law360 (October 16, 2020, 10:51 AM EDT) -- Bankrupt car rental giant Hertz Global Holdings asked a Delaware bankruptcy judge Friday for permission to accept up to $1.65 billion in debtor-in-possession financing from a noteholder group, saying the funds are needed for continued operations and to replace the vehicles in its fleet.

Hertz, which has been operating only on lenders' cash collateral since it filed for bankruptcy in May, said the proposed loan from a group of the company's first-lien noteholders is now necessary to keep the company operating through its Chapter 11 case.

"Having access to additional liquidity is critical for the debtors — not only is the...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!