Kaiser asks court to let its lenders put liens on a portion of its Alpart sales proceeds

By Jeff Pines

Washington, June 28 - Kaiser Aluminum Corp. asked the court to approve a waiver to its debtor-in-possession financing to let its post-Chapter 11 lenders put liens on some of the proceeds from the sale of its 65% stake in Alumina Partners of Jamaica in favor of its DIP lenders.

Kaiser made the request in a June 25 filing with the U.S. Bankruptcy Court for the District of Delaware.

The filing did not indicate how much of the sale proceeds would have liens on them.

A July 19 hearing is scheduled.

Kaiser filed for Chapter 11 on Feb. 12, 2002. Its Chapter 11 case number is 02-10429.

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