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Zohar III OK’d to use cash collateral to pay administrative expenses
By Caroline Salls
Pittsburgh, July 23 – Zohar III, Corp. was granted limited access to cash collateral to fund the administrative costs and expenses incurred in the Chapter 11 cases, according to an order filed Monday with the U.S. Bankruptcy Court for the District of Delaware.
The cash collateral use under Monday’s interim order will expire on the earlier of Aug. 21 or entry of an order denying the cash collateral motion on a final basis.
Zohar is a Grand Cayman, Cayman Islands-based collateralized debt obligation. The company filed bankruptcy on March 11 under Chapter 11 case number 18-10512.
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