Former Digital Domain’s forbearance extended with DIP loan amendment

By Mark Reccek

Bethlehem, Pa., Jan. 6 – DDMG Estate’s, formerly Digital Domain Media Group, Inc.’s, forbearance period was extended under a 26th debtor-in-possession financing amendment, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the forbearance period during which the DIP loan agent and lenders will not enforce any default-related rights was extended to the earlier of Jan. 29 and the occurrence of a termination event other than the DIP financing maturity date.

The company can continue incurring debt and using cash collateral in accordance with the forbearance agreement, the order said.

Digital Domain is a Port St. Lucie, Fla.-based media company. The company filed for bankruptcy on Sept. 11, 2012 under Chapter 11 case number 12-12568.

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