Gissing North America may use cash collateral through mid-December

Chicago, Nov. 22 – Gissing North America LLC has been authorized to use cash collateral in accordance with its budget through Dec. 16, according to an order filed with the U.S. Bankruptcy Court for the Eastern District of Michigan.

Modifications to the third amendments to the debtor-in-possession credit agreement have also been approved.

A further hearing about another extension on the use of cash collateral is scheduled for Dec. 16.

The Bingham Farms, Mich.-based company is a manufacturer of acoustic systems for the automotive industry. The company filed bankruptcy on Aug. 8 under Chapter 11 case number 22-46160.

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