Modern Continental looks to extend DIP financing to May 8

By Caroline Salls

Pittsburgh, April 6 - Modern Continental Construction Co., Inc. is asking the U.S. Bankruptcy Court for the District of Massachusetts to extend its debtor-in-possession financing through May 8 from April 3, according to a Monday court filing.

The company said the amount it would be permitted to spend between April 3 and May 8 would not exceed $1.53 million.

Proceeds will be used for working capital and general corporate purposes to pay the costs and expenses related to administering the company's bankruptcy case and operation of its business through May 8.

Modern Continental, a Dedham, Mass., contractor, filed for bankruptcy on June 23, 2008. Its Chapter 11 case number is 08-14558.

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