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Hollister Construction gets further interim access to cash collateral
By Caroline Salls
Pittsburgh, March 31 – Hollister Construction Services, LLC obtained court approval to continue to use the cash collateral of pre-bankruptcy secured lender PNC Bank, NA in 15th interim order filed Monday with the U.S. Bankruptcy Court for the District of New Jersey.
Under the order, the cash collateral use will run through the earlier of April 24 and occurrence of a termination event, extended from March 27.
A further hearing is scheduled for April 23.
The cash collateral will be used to fund Hollister’s operations while in bankruptcy.
Hollister is a Parsippany, N.J.-based construction company. The company filed bankruptcy on Sept. 11, 2019 under Chapter 11 case number 19-27439.
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