CarbonLite, Expecting Several Offers, Can Tap $174 Million Loans

April 8, 2021, 10:04 PM

CarbonLite Holdings LLC expects multiple offers for its assets and intends to designate a stalking horse bidder by April 19, its attorney said.

The recycled products maker, which filed for bankruptcy last month, also got court approval Thursday to tap the remainder of its $174 million in bankruptcy loans.

The nod from Judge John T. Dorsey of the U.S. Bankruptcy Court for the District of Delaware follows his interim approval of four debtor-in-possession financing deals. The final DIP approval, reached after a settlement with unsecured creditors, includes $60 million of new money to be tapped as part of the loans....

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