Interstate gets more time, money
The Kansas City Star
Thursday, May 1, 2008
By JENNIFER MANN
The Kansas City Star
Interstate Bakeries Corp., with the blessing of the U.S. Bankruptcy Court, Tuesday received more time and more money to continue its attempt to reorganize.
Approval was given to a new financing agreement, which includes lenders new to the group providing so-called debtor-in-possession funds. This agreement expires Sept. 30, an extension of nearly four months from the June 2 date for the agreement it replaces.
It also increases the amount of money available to IBC, to $250 million from $200 million.
U.S. Bankruptcy Judge Jerry Venters said Tuesday after a short court hearing that he thought it was appropriate to give the wholesale baking company more time.
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Posted by gold66801 (anonymous) on May 1, 2008 at 3:05 p.m. (Suggest removal)
WHAT A JOKE
Posted by bellabrooke (anonymous) on May 2, 2008 at 8:25 a.m. (Suggest removal)
It is a joke
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