Bankruptcy Law News

Frac Sand Producer Hi-Crush Gets $65 Million Bankruptcy Loans

July 13, 2020, 11:11 PM

Bankrupt frac sand producer Hi-Crush Inc. won interim court approval of two post-bankruptcy loans for $65 million, and revealed plans to reject a bulk of its transportation leases.

The approval Monday, by Judge David Jones of the U.S. Bankruptcy Court for the Southern District of Texas, gives the company immediate access to $43.6 million of the loans to keep operations running. The loans weren’t opposed by any interested parties. But no unsecured creditors committee has yet been appointed in the Chapter 11 case, which was filed on Sunday.

The two loans include a $25 million revolver from pre-bankruptcy secured lenders,...

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