Entrust Energy seeks approval to use $1.26 million of cash collateral

By Sarah Lizee

Olympia, Wash., April 1 – Entrust Energy, Inc. is seeking court approval to use about $1.26 million of cash collateral to continue to operate its business over the next six weeks, according to a motion filed Thursday with the U.S. Bankruptcy Court for the Southern District of Texas.

The company said the debtors will use the cash collateral to make payroll and pay other ordinary course expenses to maintain their businesses.

While the debtors don’t believe that any person or entity has a perfected lien on their cash, the motion was filed out of an “abundance of caution,” the company said.

A hearing is scheduled for April 6.

Entrust Energy is a Houston-based retail power provider. The company filed bankruptcy under Chapter 11 case number 21-31070.

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