The U.S. Bankruptcy Court approved Oakridge Holdings’ renewed motion for approval of a stipulation extending D.I.P. financing deadlines.
As previously reported, “Debtor seeks authority to extend certain deadlines in the DIP Financing Agreement per the terms of the Stipulation. The Debtor has successfully operated under Chapter 11, has obtained stipulations and orders that will allow it to operate in Chapter 11 roughly through the end of the year. It needs continued authority to borrow funds under the original DIP Financing Agreement and the DIP Lender has agreed to these extensions that will roughly parallel the other extensions of time granted in the case….The parties have agreed to extend the deadlines…for an additional 120 days pursuant to the Stipulation between the parties that will be filed in support of this motion.”
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