Endo International granted final approval to use cash collateral

By Sarah Lizee

Olympia, Wash., Oct. 20 – Endo International plc was granted use of its cash collateral on a final basis, according to a filing with the U.S. Bankruptcy Court for the Southern District of New York.

The prepetition first-lien secured parties and the prepetition second-lien notes secured parties have consented for the use of the cash collateral.

Adequate protections have been granted for both groups.

Endo needs to maintain unrestricted cash and cash equivalents as of the end of any week at $600 million, inclusive of $85 million held in the company’s Bank of America account.

Endo is a Dublin, Ireland-based specialty pharmaceutical company. The Chapter 11 case number is 22-22549.

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