Show me the money! Debtors in Chapter 11 proceedings cannot survive without money to continue operations, pay vendors and professionals, and work to restructure debt and/or sell assets. Where do those necessary funds come from? There are really only two sources – existing or generated cash (generally the collateral of the secured lender) or new money coming into estate in the form of a post-petition debtor-in-possession (DIP) loan.
At the very outset of the case, a debtor must get a court order allowing the use of either type of funds, and that order often contains terms that impact the entire course of the proceeding. As a result, the battles over the terms of the use of cash collateral or DIP financing are some of the most hotly contested in the Chapter 11 process, involving numerous parties including the debtor, secured lender, unsecured creditors’ committee, and
third party DIP lender. This webinar presents practical tips for each of these parties to protect their respective interests.
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