PrimaLend Capital Partners LP gained court approval of its $28 million bankruptcy financing after the subprime auto lender resolved all objections raised by its creditors.
There is still work to be done in the bankruptcy case but the “big pieces” are in place for the financing to move forward, PrimaLend attorney Zachary Fairlie of Spencer Fane LLP said during a Tuesday hearing in the US Bankruptcy Court for the Northern District of Texas.
An unsecured creditors’ committee filed an objection on Dec. 12 to several provisions of the financing agreement, focusing in part on a $21 million roll-up of pre-bankruptcy ...
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