Greektown asked to make language changes to final DIP motion; ruling expected Thursday

By Jennifer Lanning Drey

Portland, Ore., June 25 - Greektown Holdings LLC is resubmitting its motion for final approval of its proposed $150 million debtor-in-possession financing after being asked by the U.S. Bankruptcy Court for the Eastern District of Michigan to make language changes to the document, according to a company spokesperson.

A ruling on the new motion is expected by Thursday.

The amount and terms of the DIP loan are not expected to be altered in the language changes, according to the spokesperson.

As previously reported, Greektown obtained interim access to $51.3 million of the DIP facility on June 5.

Merrill Lynch Capital Corp. is the administrative agent. Merrill Lynch, Pierce, Fenner and Smith Inc. and Wachovia Capital Markets LLC are co-lead arrangers. Wachovia is the syndication agent.

Greektown is a Detroit casino operator. Its Chapter 11 case number is 08-53104.

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