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Fleetwood Enterprises, Inc.
Fleetwood Requests Order Granting Use of Cash Collateral in Lieu of DIP Facility
May 17th, 2009
Fleetwood Enterprises, Inc. (BULLETIN BOARD: FLTWQ) yesterday filed a motion to obtain an interim order to access the company's cash collateral through September 30, 2009. A hearing on the matter has been set for May 13, 2009. Until then, the company will continue to have access to its cash collateral under the terms of the interim DIP order previously entered. The company will use the cash collateral funds to support its working capital and continue to meet its obligations as they become due. Fleetwood had previously obtained an interim debtor-in-possession (DIP) facility, but told the Court yesterday that, given higher-than-anticipated sales of Fleetwood products, it...
Source: Pharma Investments, Ventures & Law Weekly (2009-05-17)
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