Prima Wawona receives interim access to cash collateral

By Sarah Lizee

Olympia, Wash., Oct. 17 – MVK FarmCo LLC, which does business as Prima Wawona, received interim approval to access the cash collateral of its prepetition lenders, according to an order filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, in connection with an agreement reached among the company’s lenders, Prima Wawona is proceeding with a transaction that will involve either the conversion of existing lender debt into equity ownership of the business or allow for a sale transaction to a third-party buyer.

The lenders, which include Cooperatieve Rabobank UA, New York Branch and Royal Bank of Canada, consented to the cash collateral use.

A final hearing is scheduled for Nov. 15.

Prima Wawona is Fresno, Calif.-based producer of stone fruit. The company filed bankruptcy on Oct. 13 under Chapter 11 case number 23-11721.

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