Eclipse Aviation final DIP loan hearing continued to Dec. 22

By Jennifer Lanning Drey

Portland, Ore., Dec. 15 - Eclipse Aviation Corp.'s hearing for final approval of its proposed $20 million debtor-in-possession financing was continued to Dec. 22, according to an attorney.

The hearing began Monday in the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, the company obtained interim access to $8 million of the DIP funding on Nov. 26.

The DIP lender is Alfred E. Mann Living Trust and Etirc Aviation, Sarl.

DIP loan proceeds will be used to fund the company's post-bankruptcy working capital needs.

Eclipse, an Albuquerque-based aircraft manufacturer, filed for bankruptcy on Nov. 25. Its Chapter 11 case number is 08-13031.

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