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Modern Continental looks to extend DIP financing through Aug. 28
By Caroline Salls
Pittsburgh, July 7 - Modern Continental Construction Co. Inc. asked the U.S. Bankruptcy Court for the District of Massachusetts to extend its debtor-in-possession financing through Aug. 28, according to a Tuesday court filing.
The proceeds of the extended DIP financing will be used for working capital and general corporate purposes from July 1 to Aug. 28.
The company will be allowed to spend a maximum of $882,920 during this period.
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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