Agspring Mississippi Region’s cash collateral use extended

By Sarah Lizee

Olympia, Wash., March 10 – Agspring Mississippi Region LLC secured an extension of its access to the cash collateral of its term lenders, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The continued use of cash collateral includes some plan milestones. The company was required to deliver to its prepetition lenders a draft plan of liquidation by Feb. 25 and file the plan and disclosure statement to the lenders by March 4.

The company will use the proceeds for working capital purposes to fund the cases through a value-maximizing plan process.

Agspring Mississippi Region is an agriculture supply chain services company based in Leawood, Kan. The company filed bankruptcy on Sept. 10, 2021 under Chapter 11 case number 21-11238.

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