Debtor Manufacturer Gets Extension For $8.2 Million DIP Financing

WILKES-BARRE, Pa. - A Pennsylvania federal bankruptcy judge on June 6 gave Chapter 11 debtor United Gilsonite Laboratories (UGL) another year to have access to an $8.2 million post-petition credit facility after UGL said that while it had not yet drawn any funds on the facility, it needed continued access to the financing while working on a plan of reorganization (In re: United Gilsonite Laboratories, 11-2032, M.D. Pa. Bkcy.).

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