Daily News: December 28, 2012

Court Gives Interim Approval of THQ DIP Loan


U.S. Bankruptcy Judge Mary F. Walrath in the U.S. Bankruptcy Court in the District of Delaware provided interim approval for THQ to use $6.5 million of its $37.5 million debtor-in-possession (DIP) loan, a Bloomberg article said.

The financing will be used while the company determines a plan to sell its assets to Clearlake Capital Group for approximately $60 million. A hearing is slated for January 4 to approve the full DIP financing as well as the sales process, the article said.

To read the Bloomberg article in its entirety, click here.

Previously on abfjournal.com:

THQ Secures Asset Purchase Agreement With Clearlake Affiliates, Thursday, December 20, 2012