Garrett Motion receives interim access to cash collateral

By Sarah Lizee

Olympia, Wash., Sept. 23 – Garrett Motion Inc. received approval to use cash collateral on an interim basis, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

According to the order, the access to sufficient working capital and liquidity through the use of cash collateral is necessary and vital to the preservation and maintenance of the going-concern values of the debtors and to a successful reorganization.

Rolle, Switzerland-based Garrett Motion is a provider of passenger vehicle, commercial vehicle, aftermarket replacement and performance enhancement solutions. The company filed for Chapter 11 bankruptcy on Sept. 20 under case number is 20-12212.

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