The Assisted Living chain gets the green light on the first ea. 11 Loan

Law360 (June 23, 2021, 5:10 p.m. EDT) – Assisted living chain owner received court approval from a Delaware bankruptcy judge on Wednesday to tap part of a Chapter 11 loan which will be used to cover the initial costs of his bankruptcy case.

In a virtual hearing, attorney for CP Holdings LLC, Felice R. Yudkin of Cole Schotz PC, said the debtor-in-possession financing provided by pre-lender Tor Asia Credit Master Fund LP was needed to pay the debts. professional fees that the debtor expected to incur in the first weeks of his Chapter 11 case, since his normal cash flow situation had been reduced before …

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