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Prospect News home > News index > List of issuers G > Headlines for GEO Specialty Chemicals > News item
Published on 12/8/2004 in the Prospect News Distressed Debt Daily.

GEO Specialty gets court approval to pay $35,000 deposit for exit facility

By Jeff Pines

Washington, Dec. 8 - GEO Specialty Chemicals Inc. obtained court approval to pay The CIT Group/Business Credit Inc. a $35,000 good faith deposit for a proposed $125 million exit facility.

The order was filed Wednesday with the U.S. Bankruptcy Court for the District of New Jersey.

GEO Specialty, based in Cleveland, filed for bankruptcy on March 18, 2004. Its Chapter 11 case number is 04-19148.


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