Beyond Oblivion granted final court approval of $750,000 DIP facility

By Caroline Salls

Pittsburgh, Feb. 16 - Beyond Oblivion, Inc. was granted final court approval of its $750,000 debtor-in-possession facility, according to a Thursday filing with the U.S. Bankruptcy Court for the Southern District of New York.

Clifford Burnstein and Allen & Co. LLC are the DIP loan lenders.

Interest will be 10%, and the DIP loan will mature on the earlier of March 30 and the closing of the sale of substantially all of the company's assets.

Beyond Oblivion, a New York-based digital music company, filed for bankruptcy on Jan. 23. Its Chapter 11 case number is 12-10282.

© 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.