Stanadyne gets further interim approval to access cash collateral

By Sarah Lizee

Olympia, Wash., March 21 – Stanadyne LLC received further interim approval to access cash collateral, according to a second interim order filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

Cerberus Business Finance, LLC and other prepetition secured lenders have an interest in the cash collateral.

The company said it needed immediate access to cash collateral in order to avoid irreparable harm to its business.

A further hearing is scheduled for March 28.

Stanadyne is an automotive parts manufacturer based in Jacksonville, N.C. The company filed bankruptcy on Feb. 16 under Chapter 11 case number 23-10207.

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