Mississippi Phosphates seeks extended interim access to DIP financing

By Caroline Salls

Pittsburgh, March 5 – Mississippi Phosphates Corp. asked the U.S. Bankruptcy Court for the Southern District of Mississippi to renew and extend an order granting the company interim access to $550,000 of debtor-in-possession financing, according to a Thursday court filing.

Specifically, Mississippi Phosphates wants its interim DIP financing to be in effect for 45 days from the date the renewed order is entered. Previously, the financing was scheduled to expire 30 days after entry of the interim order if no final order had been entered.

Under the renewed order, the DIP facility would mature on April 13, the motion said.

A hearing is scheduled for March 11.

Mississippi Phosphates, a Pascagoula, Miss., fertilizer company, filed for bankruptcy on Oct. 27. The Chapter 11 case number is 14-51667.

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