The bankrupt developer of a new headquarters and practice facility for the Carolina Panthers was denied approval to borrow $20 million following arguments that the loan will shield entities tied to the football team’s owner from legal claims over the stalled project.
GT Real Estate Holdings LLC has sufficiently shown a need to borrow from parent DT Sports Holding LLC to conduct its Chapter 11 case but the proposed order needs more information about certain claims and liens attached to the deal, Judge Karen B. Owens of the U.S. Bankruptcy Court for the District of Delaware said Thursday.
Her ruling ...
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