Workflow Management gets final court OK to access cash collateral

By Lisa Kerner

Charlotte, N.C., Dec. 17 - Workflow Management, Inc. was granted final court approval to use cash collateral through Feb. 4, according to a Wednesday filing with the U.S. Bankruptcy Court for the Eastern District of Virginia.

As of the petition date, the total amount of outstanding first-lien loan obligations was about $141.55 million in principal and $4.8 million in face amount of undrawn letters of credit.

The total amount of outstanding second-lien loan obligations was about $190.9 million in principal, the filing said.

As previously reported, administrative agent Silver Point Finance, LLC asked the court to deny the company's motion for the entry of an order allowing it to use cash collateral.

Workflow Management, a Dayton, Ohio-based provider of end-to-end business management outsourcing services to commercial customers, filed for bankruptcy on Sept. 29. The Chapter 11 case number is 10-74617.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.