Bankruptcy Judge To Reconsider $33.5M Funding Ruling For Bankrupt Allied Systems

WILMINGTON, Del. - The federal bankruptcy judge presiding over the Chapter 11 bankruptcy of Allied Systems Holdings Inc. on July 2 granted a motion to reconsider the ruling that approved replacement debtor-in-possession (DIP) financing of $33.5 million. Lenders had argued that Allied failed to provide adequate protection for the holders of first- and second-lien post-petition debt (In Re: Allied Systems Holdings Inc., No. 12-11564, Chapter 11, D. Del. Bkcy.).

Access this news story on lexis.com®