Hindenburg-Eyed iLE Seeks Use of Lender’s Cash After Bankruptcy

iLearningEngines, Inc. a software company that’s been called out by Hindenburg Research, plans to ask for a court’s approval to use cash collaterals, according to a court document dated Jan. 9.

• The firm hasn’t obtained post-petition financing to date and has an “urgent and immediate need” for the use of cash collateral, wrote Bonnie-Jeanne Gerety, interim chief financial officer on Thursday
• iLE filed for Chapter 11 bankruptcy in Delaware on Dec. 20, about four months after Hindenburg Research said it was short the stock
  • A special committee, which engaged law firm Paul Hastings, LLP to investigate the Hindenburg allegations, ...