Vertis gets court approval to use cash collateral through July 31

By Kali Hays

New York, June 24 – Vertis Holdings, Inc. received an extension of its cash collateral use through July 31 from June 30, according to supplemental order filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

The wind-down reserve amount was also changed to be not less than $500,000 through July 31, an amount that was previously not to be less than $750,000 through June 30.

As previously reported, the final order authorizing the company’s use of cash collateral of its pre-bankruptcy lender was entered Nov. 27, 2013.

Vertis, a Baltimore-based marketing communications company, filed for bankruptcy on Oct. 10, 2012. Its Chapter 11 case number is 12-12821.

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