Filmed Entertainment given access to cash collateral through Nov. 27

By Mark Reccek

Bethlehem, Pa., Sept. 10 – Filmed Entertainment Inc. was granted authorization to use cash collateral on an interim basis, according to an order issued Wednesday with the U.S. Bankruptcy Court for the Southern District of New York.

The cash collateral is available through Nov. 27.

According to the order, the cash collateral will be used to fund company operations while in bankruptcy.

“Without access to the cash collateral, the debtor’s ability to manage, administer and preserve its estate would be immediately and irreparably harmed, thereby materially impairing its estate and creditors and the possibility for a successful going concern sale and successful resolution of this Chapter 11 case,” the order said.

Filmed Entertainment subsidiary Columbia House is a New York-based direct marketer. The company filed bankruptcy on Aug. 10 under Chapter 11 case number 15-12244.

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