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Entrust Energy secures interim approval to use cash collateral
By Sarah Lizee
Olympia, Wash., April 7 – Entrust Energy, Inc. secured interim court approval to use about $1.26 million of cash collateral to continue to operate its business over the next six weeks, according to an order filed Tuesday with the U.S. Bankruptcy Court for the Southern District of Texas.
The company said in its motion that 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 final hearing is scheduled for May 4.
Entrust Energy is a Houston-based retail power provider. The company filed bankruptcy under Chapter 11 case number 21-31070.
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