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.

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