Powerwave granted third interim OK for cash collateral use to April 5

By Jim Witters

Wilmington, Del., March 14 - Powerwave Technologies, Inc. was granted its third interim approval for the continued use of the cash collateral of lender P-Wave Holdings, LLC through April 5, according to documents filed March 14 with the U.S. Bankruptcy Court for the District of Delaware.

The cash collateral use is contingent on Powerwave maintaining at least $1 million in cash in its accounts and on Powerwave's engaging of a chief restructuring officer on or before March 21.

A final hearing on the use of cash collateral is scheduled for 3 p.m. ET on April 10.

Powerwave Technologies, a Santa Ana, Calif.-based global supplier of end-to-end wireless solutions for wireless communications networks, filed for bankruptcy on Jan. 28. Its Chapter 11 case number is 13-10134.

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