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MV Realty receives interim approval to access cash collateral
By Sarah Lizee
Olympia, Wash., Oct. 27 – MV Realty PBC, LLC received interim approval to access cash collateral, according to an order filed Friday with the U.S. Bankruptcy Court for the Southern District of Florida.
A further hearing is scheduled for Nov. 29.
As previously reported, loan agent Monroe Capital Management Advisors, LLC had objected to the cash collateral use.
But Monroe Capital said that the secured parties may be willing to negotiate an appropriate cash collateral arrangement with sufficient adequate protection terms and conditions.
In the motion, the company said it owes Monroe $40 million, and it owes the Goodwood Funds close to $12 million.
The Boca Raton, Fla.-based real estate company filed bankruptcy on Sept. 22 under Chapter 11 case number 23-17590.
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