DeCurtis: Court holds off on final DIP order, but ups interim access

By Sarah Lizee

Olympia, Wash., June 6 – DeCurtis Holdings LLC received further interim approval to access $2.5 million of a $6.5 million new money debtor-in-possession facility, according to an interim order filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, the financing is being provided by first-lien lenders.

Prior to the most recent order, the company had access to $2 million of the facility.

Following a final order, the financing will also include a $17.89 million rollup of prepetition secured debt into the facility.

The court held a hearing to consider final approval of the DIP financing on May 26, but declined to enter an order at the time. However, the court said it would “entertain a consensual order on an interim basis to allow the parties further opportunity to address adequate protection.”

Orlando, Fla.- based DeCurtis provides guest experience and operational management product-focused SaaS software solutions. The company filed bankruptcy on April 30 under Chapter 11 case number 23-10548.

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