Court Authorizes Trainor to Use Cash
Collateral, Incur Postpetition Debt
April 18, 2012
In a final hearing on April 12, the U.S. Bankruptcy Court for the
Northern District of Illinois issued an order (excerpted here)
granting Trainor Glass the motion to use cash collateral and incur
postpetition debt. The court also granted the company adequate protection
and provide security and other relief to First Midwest Bank in its
capacity as prepetition lender.
The court had entered an
interim order granting the motion on March 23.
Trainor Glass had motioned
for these provisions shortly after the company filed
for Chapter 11 bankruptcy on March 9.