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BPI Energy granted court OK to use cash collateral through June 19
By Caroline Salls
Pittsburgh, March 12 - BPI Energy, Inc. was granted final court approval to use the cash collateral of secured lender GasRock Capital LLC to fund BPI's operations while in bankruptcy, according to a Thursday filing with the U.S. Bankruptcy Court for the Northern District of Ohio.
The company's access to the cash collateral will expire on June 19.
BPI, a Solon, Ohio-based independent energy company engaged in the exploration, production and commercial sale of coalbed methane in the Illinois Basin, filed for bankruptcy on Feb. 5. Its Chapter 11 case number is 09-10773.
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