Daily News: August 10, 2012

Benada Aluminum Gets Interim Approval to Use Wells Fargo DIP Loan


The U.S. Bankruptcy Court for the Middle District of Florida has granted interim approval for Benada Aluminum Products to use its debtor-in-possession financing from Wells Fargo Bank and FTL Capital. Wells Fargo is providing $5 million and FTL is lending $1.25 million, an article on The USGlass News Network said.

Before its bankruptcy filing, the company owed Wells Fargo $5.7 million and FTL $2 million.

The court is also allowing the company to continue operating its businesses, pay expenses, pay employees and provide benefits, the article said.

To read the article in its entirety, click here.