Quicksilver Resources gets final court OK to use cash collateral

By Mark Reccek

Bethlehem, Pa., Dec. 14 – Quicksilver Resources Inc. received final court approval to use the cash collateral of its first-lien and second-lien lenders and second-lien noteholders to fund its operations while in bankruptcy, according to an order filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

The cash collateral use will expire on the earlier of April 30 and the occurrence of any termination event.

The order said the cash collateral will be used to pay operating expenses and preserve the going concern value of the debtors.

Quicksilver is a Fort Worth-based independent oil and gas exploration and production company. The company filed bankruptcy on March 17, 2015 under Chapter 11 case number 15-10585.

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