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Egalet wins court approval to use secured creditors’ cash collateral
By Caroline Salls
Pittsburgh, Dec. 4 – Egalet Corp. obtained final court approval to use the cash collateral of its pre-bankruptcy secured creditors, according to an order filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.
As previously reported, the cash collateral will be used to fund the company’s operations while in bankruptcy.
The cash collateral use will expire six months from the date of Egalet’s bankruptcy filing.
Wayne, Pa.-based Egalet is a specialty pharmaceutical company focused on developing pain treatments. The company filed bankruptcy on Oct. 30 under Chapter 11 case number 18-12439.
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