Eagle Senior Living gets final court OK to use cash collateral

By Sarah Lizee

Olympia, Wash., Feb. 10 – American Eagle Delaware Holding Co. LLC, which does business as Eagle Senior Living, received final court approval to use the cash collateral in which bond trustee UMB Bank, NA has an interest, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The court said the ability of the debtors to obtain liquidity through the use of the cash collateral is vital to the debtors and their efforts to maximize the value of their estates.

“Absent entry of this final order, the debtors’ estates and reorganization efforts will be immediately and irreparably harmed,” the court said in the order.

The Ann Arbor, Mich.-based senior living community provider filed bankruptcy on Jan. 14 under Chapter 11 case number 22-10028.

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