Twin River receives final access to secured lenders' cash collateral

By Caroline Salls

Pittsburgh, Nov. 18 - Twin River received final court approval to use the cash collateral of its pre-bankruptcy secured lenders, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Rhode Island.

The company said the cash collateral will be used to continue its operations, meet payroll and other ordinary course business expenditures and acquire goods and services.

The cash collateral use will expire on the earliest of confirmation of the company's plan of reorganization, conversion of its Chapter 11 bankruptcy case and appointment of a Chapter 11 trustee.

Twin River, a Lincoln, R.I., casino, filed for bankruptcy on June 23. Its Chapter 11 case number is 09-12418.

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