| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers L > Headlines for Lannett Co., Inc. > News item |
Lannett gains approval to use cash collateral of prepetition lenders
Chicago, May 5 – Lannett Co., Inc. got the sign-off from judge J. Kate Stickles to access the cash collateral of its prepetition secured lenders, according to an interim order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.
The company said it won’t be seeking access to debtor-in-possession financing during its proceedings.
Second-day motions are scheduled for June 8.
As previously reported, the company filed a pre-packaged plan that has the support of holders of more than 80% of its 7¾% senior secured notes due 2026 and 100% of the lenders party to the company's second-lien credit and guaranty agreement.
Based in Trevose, Pa., Lannett develops, manufactures, packages, markets and distributes generic pharmaceutical products. The company filed bankruptcy on May 2 under Chapter 11 case number 23-10559.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.