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Zohar III granted approval to access cash collateral through March 31
By Caroline Salls
Pittsburgh, Feb. 25 – Zohar III, Corp. interim court approval to use the cash collateral of the indenture trustee for its secured parties on a limited basis through March 31, according to an order filed Monday with the U.S. Bankruptcy Court for the District of Delaware.
The order specifies that the company may use the cash collateral solely to fund the administrative costs and expenses incurred by the Zohar debtors and the costs and expenses incurred by the indenture trustee.
Zohar is a Grand Cayman, Cayman Islands-based collateralized debt obligation. The company filed bankruptcy on March 11, 2018 under Chapter 11 case number 18-10512.
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