Evergreen Solar granted interim access to noteholders' cash collateral

By Caroline Salls

Pittsburgh, Aug. 17 - Evergreen Solar, Inc. received interim court approval to use the cash collateral of its pre-bankruptcy secured noteholders to fund its operations while in bankruptcy, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The final hearing is scheduled for Sept. 6.

The company's cash collateral use is scheduled to run through Nov. 15, unless a Chapter 11 plan takes effect of the bankruptcy case is dismissed or converted before that expiration date.

Evergreen Solar makes solar-power products and is based in Marlboro, Mass. The company filed for bankruptcy on Aug. 15. The Chapter 11 case number is 11-12590.

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