Special Devices final DIP hearing adjourned to Jan. 14

By Jennifer Lanning Drey

Portland, Ore., Jan. 6 - Special Devices Inc.'s hearing for final approval of its proposed $22.5 million of debtor-in-possession financing from Wayzata Investment Partners LLC was adjourned to Jan. 14, according to a source familiar with the case.

As previously reported, on Dec. 16 the company was granted interim court approval to use $3 million of the financing.

The final hearing was originally scheduled for Jan. 6 in the U.S. Bankruptcy Court for the District of Delaware.

Special Devices, a Moorpark, Calif., manufacturer of pyrotechnic devices for airbags, filed for bankruptcy on Dec. 15. Its Chapter 11 case number is 08-13312.

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