Quantcast
Channel: Daily Bankrupt Company Updates | Bankrupt Company News
Viewing all articles
Browse latest Browse all 4593

Erickson Bankruptcy Stipulation Approved

0
0

The U.S. Bankruptcy Court approved Erickson’s motion for an agreed order regarding the second stipulation for adequate protection filed by the Debtors and the United States of America.

As previously reported, “Pursuant to the First Adequate Protection Order, the Debtors received $516,820.82 for prepetition services that the Debtors provided to the Military Sealift Command’s Vertical Replenishment program (the ‘Vert Rep Payment’). In exchange, the United States obtained as adequate protection an allowed administrative claim in the same amount.”

In addition, “After the entry of the First Adequate Protection Order, the Parties discovered that in addition to the Vert Rep Payment, the United States also owes the Debtors approximately $100,485 for prepetition services provided by the Debtors to the United States Coast Guard pursuant to a purchase order for air transportation services (the ‘Coast Guard Services’)….The Proposed Order will allow the Debtors to receive $100,485 (the ‘Coast Guard Prepetition Payment’) for the Coast Guard Services provided by the Debtors.”

Read more bankruptcy news.

The post Erickson Bankruptcy Stipulation Approved appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


Viewing all articles
Browse latest Browse all 4593

Latest Images

Trending Articles





Latest Images