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Manistique Papers receives court approval to use mBank cash collateral
By Caroline Salls
Pittsburgh, Sept. 15 - Manistique Papers Inc. received final court approval to use the cash collateral of lender mBank, according to a Sept. 15 filing with the U.S. Bankruptcy Court for the District of Delaware.
The use of the cash collateral will help to maximize the value of the company's assets while in bankruptcy, the order said.
Manistique Papers, a Manistique, Mich., recycled-fiber specialty paper producer, filed for bankruptcy on Aug. 12. Its Chapter 11 case number is 11-12562.
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