Seaboard Realty seeks interim approval to use cash collateral

By Mark Reccek

Bethlehem, Pa., Feb. 5 – Seaboard Realty LLC requested interim court authorization to access the cash collateral of its pre-bankruptcy secured parties, according to a motion filed Thursday with U.S. Bankruptcy Court for the District of Delaware.

The cash collateral use will expire on the earlier of 12 months from the entry of the interim order, entry of a final order, effective date of the plan of reorganization or liquidation, or conversion of the Chapter 11 cases to Chapter 7 cases.

The company said the cash collateral use will fund its operations and the restructuring process, the motion said.

According to the motion, the final hearing will be held within 30 days of entry of the interim order.

Seaboard owns office, hotel and residential properties throughout Stamford, Conn. The Chapter 11 case number is 15-12508.

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